Intel to invest $20B in two chip factories in Ohio

Business

Christian Baha / BU

21 January

1 min read

EPA-EFE/JOHN G. MABANGLO

Intel Corporation announced on Friday it will invest over $20 billion in two semiconductor factories in Ohio.

The construction of the two plants will begin in late 2022, while production is forecasted to start at the end of 2025, the company said in a statement.

"Today's investment marks another significant way Intel is leading the effort to restore US semiconductor manufacturing leadership," CEO Pat Gelsinger commented.

The company's shares were up by 0.63% in the premarket after the announcement.

intel semiconductor

Related Stocks

Intel Corporation

Intel's chief commercial officer resigns

2 hours ago

Intel Corporation's Chief Commercial Officer Christoph Schell notified the company of his decision to resign, effective June 30, according to Intel's Securities and Exchange Commission (SEC) filing released on Wednesday.Schell, who also served as general manager of sales, marketing, and communications and executive vice president, notified the company of his departure on Monday, noting that the reason for the resignation is to "pursue another career...

ECA warns EU may miss 2030 microchip goal

28 April

The European Court of Auditors (ECA) warned on Monday that the EU is falling behind in the global microchip race. According to the ECA, the goal of capturing 20% of the global microchip market by 2030 is highly unlikely to be achieved. Challenges such as limited access to raw materials, high energy costs, and geopolitical tensions further complicate the situation. Despite the 2022 EU Chips Act, which aimed to boost the sector, the ECA believes...

Intel's revenue in Q1 remains at $12.7 billion

24 April

Intel Corporation reported on Thursday that its first-quarter revenue for fiscal year 2025 remained unchanged year-over-year at $12.7 billion.The tech giant recorded a net loss of $0.8 billion, marking a 115% decline from the $0.4 billion loss reported in the corresponding quarter of 2024. Additionally, the diluted loss per share (EPS) for the first quarter stood at $0.19, compared to a $0.09 loss in the previous year. Looking ahead, Intel projects second-quarter 2025...

PREVIEW: CEO shift unlikely to ease Intel's Q1 profit slump

24 April

Intel Corporation is expected to release its first-quarter earnings report after the markets in the United States close on Thursday. The chipmaker has recently appointed Lip-Bu Tan as its new CEO, after former chief Pat Gelsinger decided to retire. However, the change in the company's leadership is unlikely to have a positive impact on the company's first-quarter financial results, as the new CEO assumed the role in March.Intel's revenue for the first three-month...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.