Amid a global chip shortage that has been exacerbated by the COVID-19 pandemic, Intel announced that it will invest more than $20 billion in two new chip factories in Ohio.
Richard Drew/AP, FILE
The new investment will significantly expand U.S. manufacturing capabilities for semiconductors, a vital building block needed for computers, smartphones, autos, and much more. Much of the global tech industry currently relies on chip manufacturing out of Asia. "Intel’s actions will help build a more resilient supply chain and ensure reliable access to advanced semiconductors for years to come," Gelsinger added."Intel is bringing leading capability and capacity back to the United States to strengthen the global semiconductor industry. These factories will create a new epicenter for advanced chipmaking in the U.S. that will bolster Intel’s domestic lab-to-fab pipeline and strengthen Ohio’s leadership in research and high tech.
In addition to the initial investment of some $20 billion, Intel pledged an additional $100 million to help"build a pipeline of talent and bolster research programs in the region," according to a company statement.
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