In The News 2 March 2025

Intel delays $28 billion Ohio chip factories

Intel's anticipated $28 billion chip fabrication plants in Ohio are facing further delays, with the first factory in New Albany now expected to be completed only by 2030, the struggling chipmaker said.

The first factory will begin operations sometime shortly thereafter, between 2030 and 2031, the company said, extending its original timeline by at least half a decade.

According to Yahoo Finance (https://finance.yahoo.com/news/intel-delays-28-billion-ohio-151421518.h…), Intel has been cutting capital expenses. Changes were made so Intel can align its factory operation with market demand and "manage capital responsibly," Naga Chandrasekaran, general manager of Intel Foundry Manufacturing, said in a message to employees.

"We are taking a prudent approach to ensure we complete the project in a financially responsible manner."
The company's second Ohio factory will complete construction in 2031 and will begin running in 2032, Intel said.

Last year, the company laid off 15 percent of its workforce, suspended dividend and initiated an extensive cost-savings plan involving massive cuts to its capital expenditure in the coming years.

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