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Intel Israel reports record-setting year with $8 billion in 2020 exports

Tech firm’s Israel branch sees jump of 14% in exports over 2019; Mobileye, Israeli startup bought by Intel in 2017, takes in $967m; parent company experiencing bumps, however

Luke Tress is a video journalist and tech reporter for the Times of Israel

Intel's Jerusalem office, May 18, 2016. (Yonatan Sindel/Flash90)
Intel's Jerusalem office, May 18, 2016. (Yonatan Sindel/Flash90)

Intel Israel, one of the country’s largest private employers, has reported a record-setting year for 2020 despite the pandemic downturn and a rocky year for the US corporation.

The US chipmaker’s Israel branch reported a record $8 billion in exports in 2020, marking an increase of 14% over 2019’s exports of $6.6 billion.

Intel is Israel’s largest private tech employer, with 13,950 workers. It accounts for 14% of the country’s tech exports and 2% of the national GDP, according to the Calcalist business daily.

Mobileye, an Israeli startup Intel purchased in a record-setting deal in 2017, made $967 million for Intel last year and reported 10% growth. In the fourth quarter of 2020, Mobileye made $333 million, a 39% jump over the same period in 2019.

Intel said its largest inventory of equipment and property outside the US was in Israel, with $7.8 billion in assets, followed by Ireland, then China.

Intel largely continued its operations in Israel during the pandemic as its production facilities were considered essential industries.

Intel as a whole made $77.9 billion in 2020, an 8% increase over last year.

US tech companies fared well in 2020 as many people shifted to working from home and spending more time online, including for shopping.

Intel’s new CEO, Pat Gelsinger, is set to take the company’s reins this month, replacing Bob Swan.

Gelsinger, who worked as an engineer at Intel decades ago, will look to steady the company, which has struggled to keep pace in the last couple of years as more tech firms have begun to develop chips and processors in-house.

Last year, the company reported a significant delay in some of its chip development, a major blow to its business.

Also last year, Apple decided to produce some of its processors in-house instead of buying them from Intel, in another significant loss.

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