Intel Capital to invest $2 billion in America

Chip giant Intel plans to spend $2 billion investing in US companies, the Wall Street Journal said.

According to the report, Paul Otellini, CEO of Chipz, will make the announcement today at a gig he’s attending in Washington DC.

Intel has a wing called Intel Capital which puts seed money into firms that interest it. They don’t have to be technology firms, but often are. Last year Otellini said that Intel would invest $7 billion putting money into fabrication plants in the United States.

A typical state of the art fab will set you back around $3 billion.

When Intel Capital’s investments come off, it typically makes quite a bit of money out of the deal.

The Wall Street Journal report is here (subscription required. That enough attribution? Ed.)