Intel, in Oval Office, announces $7 billion semiconductor factory

Intel Corp chose the Oval Office as its backdrop to announce a $7 billion investment in a new Arizona semiconductor factory, a plant it said would create 3,000 new jobs when it is up and running. Intel Chief Executive Officer Brian Krzanich announced the investment to reporters while standing behind President Donald Trump, a signal of how corporate America is adapting to a White House that is not reluctant to single out companies for praise or criticism.