Despite US manufacturers recently securing the $280 billion Chips Act, Intel is preparing to slash spending and cut tens of thousands of jobs. Why is the world’s largest semiconductor manufacturer making such a dramatic U-turn, and what could it mean for Ireland?

Tech company reported increased profits and revenues in 2021

The Limerick-based company, which employs 1,252 people in Ireland, has sent hundreds of millions to other Analog subsidiaries in Bermuda and Jersey

Amid a global shortage of microchips, the EU and China are seeking to wrestle back control of their supply chains. And as the silicon wafers are now fundamental to so many industries, Ireland stands to benefit from what has quietly become its fourth-largest export

Semiconductors, which account for 60 per cent of our trade with China, have now become Ireland’s fourth largest goods export