Intel to invest $7 billion in U.S. as recession deepens

Intel plans to invest $7 billion over two years to build next-generation US chip manufacturing plants, unveiling its biggest spending plan for new technology amid a deepening economic recession and huge internal job cuts. Intel wants to make faster, smaller chips that consume less energy. Analysts say the spending plan did not surprise markets, as it came on the heels of Intel's announcement it would begin ramping up its operations to produce chips based on 32-nanometer circuitry by 2009's final quarter, and was in line with the firm's annual capital expenditures.