The development will likely boost Intel's upcoming Intel Core Ultra processors (code-named Meteor Lake), which will pave the way for AI PCs, as well as future-generation Intel Xeon processors coming in 2024 and produced on the Intel 3 process node.
EUV plays a critical role in driving Intel toward its goals of delivering five nodes in four years and regaining leadership in process technology by 2025.
Intel's investments in Ireland, along with existing and planned investments in Germany and Poland, create a first-of-its-kind end-to-end leading-edge semiconductor manufacturing value chain in Europe.
They serve as a catalyst for additional ecosystem investments and innovations across the European Union.
"As we continue to advance our 17-billion-euro investment, this marks a significant milestone and a win for our Ireland operations as it brings Intel's latest and greatest Intel 4 technology utilizing EUV to Fab 34, Ireland and Europe," said Keyvan Esfarjani, executive vice president and chief global operations officer at Intel.
Price Action: INTC shares are trading higher by 1.65% to $35.76 on the last check Friday.