The EU is giving money to help build Infineon's new semiconductor factory in Dresden, which will cost around €1 billion. This support is part of a wider effort to boost Europe's tech industry.
Construction of the factory started in March 2023 and it is expected to open in 2026, creating up to 1,000 new jobs. This will help the local economy and provide new employment opportunities.
The new facility will focus on making energy-efficient technology, especially for artificial intelligence. It will also encourage collaboration with universities to foster innovation in Europe.