Broadcom to invest in Spanish chip program
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Broadcom has decided to invest in Spain’s semiconductor industry, according to the company’s president Charlie Kawwas.
Kawwas made the announcement via a tweet message that showed Broadcom CEO Hock Tan and himself flanking Spanish President Pedro Sanchez Perez Castejon.
The investment would be made via’s Spain’s PERTE support program an under EU Chips Act principles the tweet said without revealing the size of the investment or what Broadcom would invest in.
Broadcom is a diverse communications, networking and cloud infrastructure company with the major part of its revenue in semiconductors but also software revenues that have expanded through a series of acquisitions.
The Strategic Projects for Economic Recovery and Transformation (PERTE) are a new public-private collaboration instrument set up by Spain, which is expected to mobilize public investment of more than €30 billion.
So far semiconductors is one of 11 PERTE programs announced and each program could be worth about a billion euros, according to reports.
The project is set to include the construction of a large-scale back-end semiconductors facility, according to reports although Spanish politicians have indicated a desire to get involved in front-end chip manufacturing (see Spain wants to develop 5nm chip manufacturing – report).
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