Samsung plans to invest $116 bn on chips to take on Intel, Qualcomm

Samsung Electronics Co. intends to invest 133 trillion won ($116 billion) over the next decade or so to take on Intel Corp. and Qualcomm Inc. in the business of making advanced chip processors, quickening an effort to take greater control of the global semiconductor industry.

Samsung, which now leads the market for the memory chips used in devices from servers to smartphones, said it plans to ramp up investment in semiconductors in the years leading up to 2030 to take the lead in so-called logic chips. It aims to create 15,000 production and research jobs over that period to become the world leader in a field dominated by its U.S. rivals.