The Big Take
The Global Fight Over Chips Is About to Get Even Worse
Sanctions are causing a shortage of microchips in Russia. Meanwhile, the U.S. and Europe are spending billions in a race with China that could easily backfire.
Magdeburg in former East Germany is famous for its towering gothic cathedral, and not a lot else. It’s now about to play a key role in U.S. and European efforts to tilt the global balance of power.
Intel Corp. unveiled plans on March 15 to build a giant, 17 billion-euro ($18.7 billion) factory making cutting-edge semiconductors in the city, adding to new plants in Arizona and Ohio the company announced over the past six months.