US chip maker Intel will spend $20 billion to build two new facilities in Ohio, Kallanish learns from a company announcement.
The semiconductor factories come bundled with $100 million in educational funds “to build a pipeline of talent and bolster research programmes in the region,” the company says.
Construction will begin later this year, wrapping up in 2025.
The ongoing semiconductor shortage is one of the main bottlenecks for EV production. It has also affected the traditional auto sector since at least mid-2020. Semiconductors are one of the basic components of electronic chips.
“Intel’s actions will help build a more resilient supply chain and ensure reliable access to advanced semiconductors for years to come,” says ceo Pat Gelsinger. “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 US that will bolster Intel’s domestic lab-to-fab pipeline and strengthen Ohio’s leadership in research and high tech.”
More free articles from our archive
More Global Prices
Take a Free trial
Get daily steel news redirect to your inbox each day,
along with prices.