SAN FRANCISCO — Intel, the world’s largest computer chip manufacturer, will invest $7 billion to build a new factory in Arizona, the company’s chief executive said on Wednesday after meeting with President Trump in the White House.

The factory, which will complement two other factories that Intel has in Chandler, Ariz., has been under consideration for several years. But Mr. Krzanich said that the tax cuts and deregulatory policies pushed by Mr. Trump had prompted the company to move forward with its plans.

“The people of Arizona will be very happy. It’s a lot of jobs,” President Trump said at a White House event to announce the expansion.

The new facility will build a new generation of chips with ultra-small circuitry and employ 3,000 additional people at its peak, Intel said. “This factory will produce the most powerful computer chips on the planet,” Mr. Krzanich said.

Although the company is based in Silicon Valley, the majority of its global chip production is in Oregon and Arizona. It also has factories in other countries, including China and Israel.