Advanced Micro Devices (AMD), a chipmaker, has announced plans to invest up to $135 million (€124 million) over four years in Ireland in order to support the country's ongoing growth.

Through the creation of up to 290 highly qualified engineering and research positions as well as a wide range of additional support positions, the investment is meant to finance a number of strategic research and development projects.

Simon Coveney, the minister for business, trade, and employment, and Ruth Cotter, senior vice president of AMD's marketing, communications, and human resources, will make the official announcement of the development on Wednesday in Dublin.

Minister Coveney said: “This significant investment will not only bolster our thriving technology sector but also create long-term career opportunities for both highly experienced professionals and new graduates from engineering disciplines."