Building a semiconductor manufacturing facility, or a fab, is expensive. A leading-edge fab could easily cost $10-15 billion. When Intel's new CEO, Pat Gelsinger, unveiled the new IDM 2.0 strategy earlier this year, we knew Intel would need to step up investment in the next few years. But it seems like we underestimated Intel's ambition.  In an interview with Financial Times last month, Intel disclosed its plan to invest $20 billion in the EU initially with a total investment top $100 billion over time. Earlier this week, in another Washington Post interview, Pat also revealed its plan to build 6 to 8 fabs in the US, each cost $10 to $15 billion, with a total cost of $60 to $120 billion.

"It's a project over the next decade on the order of $100 billion of capital, 10,000 direct jobs. 100,000 jobs are created as a result of those 10,000, by our experience. So, essentially, we want to build a little city." 

Intel has stopped its share repurchase in the second quarter to build the war chest they need for the enormous investments and raised another $5 billion of debt earlier this week. Government subsidies will also play a significant role in these investments. Pat Gelsinger has been actively talking to politicians around the globe, lobbying for financial and political support.  It is still very early, and there are more questions than answers for Intel's new IDM 2.0 strategy. But it is safe to say that Pat is going all in and leaving no stone unturned.