BERLIN (AP) 鈥 Intel and the German government signed a deal Monday that will see the U.S. company spend more than 30 billion euros ($32.8 billion) to build a chip manufacturing site in the eastern city of Magdeburg, after Germany pledged to cover a third of the investment required.

Word of the agreement came as German Chancellor Olaf Scholz met Intel CEO Pat Gelsinger in Berlin.

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