February 28, 2001–San Jose, California–Intel Corp. CEO Craig Barrett told the audience attending the Intel Developers Forum yesterday in San Jose, CA, that the company is investing $12 billion this year in new silicon technologies and manufacturing capacity that will enable them to pursue future growth opportunities.

“This year alone, we will begin producing 300mm wafers, introducing copper metallization, ramp 0.13-micron technology, and deploy a whole host of other technologies that will allow Intel to help drive the next wave of innovation in the technology industry,” said Barrett. “We intend to provide the silicon that will power the Internet for generations to come.”

Barrett urged the crowd of 5,000 developers, engineers, and other technical experts attending the forum to join Intel in investing for long-term growth, despite near-term economic uncertainty. “The Internet is the growth engine of the future,” Barrett said. “While technology companies may be facing slower demand for certain products today, the worldwide build-out of the Internet will continue to drive increased productivity, new forms of communication, and entirely new product categories well into the future. Now is the time to invest in that future.”