Intel's official press releases or reports from reputable business news outlets

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

Oct 28, 2024, 01:10 PM

Intel announced a significant investment to expand its operations in both the United States and China. The company will invest over $28 billion to construct two new chip factories in Ohio, aiming to bolster its contract manufacturing business and better compete with Taiwan Semiconductor. Additionally, Intel will invest $300 million to scale up its assembly and testing site in Chengdu, Sichuan, China. This expansion will include adding packaging services for server chips and building a customer solution center to enhance efficiency from local supply chains. The move, reported by DigiTimes, leverages existing operations to meet China's demand for energy-efficient solutions. It comes amid Intel CEO's criticism of the slow disbursement of $8.5 billion CHIPS Act funds and follows accusations from China's cybersecurity association regarding security vulnerabilities in Intel products.