“We cannot afford to let our future scientists and engineers sit idle after graduation,’’ Otellini said.

Intel, venture firms will invest $3.5b to spur tech job growth - The Boston Globe

Intel is also part of a group of companies that agreed to increase hiring of US college graduates, creating as many as 10,500 jobs in 2010.

“We cannot afford to let our future scientists and engineers sit idle after graduation,’’ Otellini said.

Microsoft Corp., Google Inc., General Electric Co., Hewlett-Packard Co., Cisco Systems Inc., and Dell Inc. are part of that group.

Intel Capital has invested about $6.2 billion over the past 20 years in US companies, according to Intel. The company, which competes against Advanced Micro Devices Inc., spends about $5 billion a year on research and development.

US semiconductor companies, including Intel, have lobbied the government to raise standards in math and science education, increase funding for research at universities, and cut corporate taxes to promote domestic investment.