Intel CEO Craig Barrett says he doesn't know when a rebound in IT spending might take place, but that's not stopping him from investing in product development. Speaking in New Delhi last week during a swing through Asia, Barrett said Intel plans to spend as much as $200 million to expand a software design center in Bangalore, India.
The announcement came just two days after Barrett said he couldn't predict when business-technology spending would rebound. Nevertheless, Barrett said Intel plans to triple the number of engineers working at its Bangalore center, to 3,000 over the next few years. "Our initial plans would be more on the engineering and design aspect, as opposed to manufacturing and production," he said.
The outlook for technology spending is uncertain, Barrett said. "We haven't seen much improvement in the computing environment because companies aren't investing. I'm not forecasting when that will happen."
Intel plans to update investors on its third-quarter performance on Sept. 5. In July, the chipmaker said it expects third-quarter revenue of $6.3 billion to $6.9 billion, compared with $6.5 billion in the year-ago quarter.