Intel to invest up to $100 bn in Ohio chip units

Representational image.

Representational image.

Intel Corp. said on Friday it would invest up to $100 billion to build potentially the world’s largest chip-making complex in Ohio, as it looks to boost capacity amid a global shortage of semiconductors used in everything from smartphones to cars.

The move is part of chief executive officer Pat Gelsinger’s strategy to restore Intel’s dominance in chip making and reduce America’s reliance on Asian manufacturing hubs, which have a tight hold on the market.

An initial $20 billion investment — the largest in Ohio’s history — on a 1,000-acre site in New Albany will generate 3,000 jobs, Mr. Gelsinger said.

That could grow to $100 billion with eight total fabrication plants and is the largest investment in Ohio’s history, he told Reuters.

Dubbed the silicon heartland, it could become ‘the largest semiconductor manufacturing location on the planet,’ he said.

While chipmakers are scrambling to boost output, Intel’s plans for new factories will not alleviate the current supply crunch, because such complexes take years to build.

Mr. Gelsinger reiterated on Friday that he expected the chip shortages to persist into 2023.

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Printable version | May 20, 2022 3:34:05 am |