Intel Corp. is teaming with a French university and government agencies to open a research center in Paris aimed at building faster supercomputers.
Intel, the world's largest provider of microprocessors used in personal computers, said it will make a "multimillion" dollar investment in the project over three years but did not provide specifics.
The company said its contribution will be matched by The French Atomic Energy Commission, the Versailles Saint-Quentin-en-Yvelines University and the French National High-Performance Computing Agency.
Intel, based in Santa Clara, Calif., said the lab will employ a dozen workers to start and eventually grow to three times that size. It has not said when the center will open.
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The center's aim will be to develop so-called "exascale" computing, meaning a system that can process 1 trillion commands per second, or a thousand times faster than existing supercomputers.
Intel shares fell 87 cents, or 4.3 percent, to $19.25 in late trading amid a broader market downturn.