Intel’s Israeli Export Went Up by Over $2.7 Billion in 2019
CTech – Intel’s export from Israel totaled $6.6 billion in 2019, up from $3.9 billion in 2018, according to data the company released Sunday. The company’s total export from Israel over its 46 years of operations in the country has now surpassed $60 billion.
Including the employees at subsidiary Mobileye, Intel currently employs 13,700 people in Israel. The company invested $20.5 billion to date in setting up local development centers and manufacturing facilities. In late 2019, the company opened a new development center in central Israeli town Petach Tikva, where 1,800 of its employees are housed.
Intel is one of the most active multinationals in Israel in terms of investments and acquisitions, with its latest deal being the $2 billion purchase of Tel Aviv-based artificial intelligence chip developer Habana Labs. In 2019, the corporation also spent $1.8 billion on buying from local companies, with 75% of the money going to small and medium businesses.
“Over the past year, Intel has solidified its technological leadership in AI with new product launches and the acquisition of Habana Labs,” Yaniv Garty, general manager of Intel Israel, said in a statement. “We have also engaged deeper with the entrepreneurial ecosystem by starting our Ignite accelerator program. Combined with several investments by Intel Capital, our connection with Israeli startups is now stronger than ever.”