Intel to Invest $28 Billion in Ohio Chip Factories, $300 Million in Chengdu Facility

Oct 28, 2024, 03:13 AM

Intel will invest more than $28 billion to construct two new chip factories in Ohio, the company announced on Friday. This move is part of Intel's strategy to build out its contract manufacturing business and better compete with Taiwan Semiconductor. Additionally, Intel is expanding its assembly and testing site in Chengdu, Sichuan province, China. The expansion includes adding packaging services for server chips and building a customer solution center to enhance efficiency from local supply chains. The investment in the Chengdu facility amounts to $300 million. Intel CEO criticized the slow disbursement of $8.5B CHIPS Act funds amid looming losses.