During a visit to the Middle Eastern country, Intel CEO Pat Gelsinger noted that 400 million dollars will go towards turning its MObileye unit in Jerusalem into an R&D campus, while 200 million dollars will be invested in building a new "mega chip design" site in Haifa.
Intel acquired Mobileye in 2017 for 15.3 billion dollars. Since then, the tech giant bought two more Israeli tech firms, Habana Labs for 2.0 billion dollars and Moovit for 900 million dollars.