Report: Broadcom scraps $1 billion chip investment in Spain
The investment had been announced by Broadcom in 2023. Sources told Europa Press that talks with Spain’s government had broken down but the report did not give any reason for the collapse in negotiations.
US chipmaker Broadcom has scrapped plans to invest in a microchip plant in Spain, according to Reuters, citing a report by news agency Europa Press.
Sources told Europa Press that talks with Spain’s government had broken down but the report did not give any reason for the collapse in talks.
Negotiations stalled throughout 2024 and Donald Trump’s inauguration as US president seems to have delivered the final blow to the project, according to a report by TrendForce that cites Alerta and Europa Press.
If confirmed, the decision will be a blow for Spain’s chipmaking ambitions.
The investment had been announced by Broadcom in 2023. The Spanish government had said at the time the project could be worth USD 1 billion and include building “large-scale back-end semiconductors facilities unique in Europe,” the Reuters report added.
Spain’s government has previously stated that it aims to allocate approximately 12 billion euros for the semiconductor and microchip industry.