Intel Has 8.5 Billion in Funds With More Available for Chip Production

Intel has announced its plans to utilize the funds from the CHIPS Act for the development of fabs and research centers in Arizona, Ohio, New Mexico, and Oregon.

This decision aligns with Intel’s larger commitment to investing $100 billion in U.S. programs and facilities. Additionally, Intel has outlined a strategy to regain its position in leading-edge manufacturing by 2026.

The Ohio fab project is estimated to cost over $20 billion and is projected to commence production in 2027 or 2028. Concurrently, Intel is expanding its manufacturing operations in Arizona and New Mexico.

These initiatives are expected to create job opportunities for approximately 20,000 individuals in fab construction and 10,000 in chip manufacturing.

During a call with reporters, Intel CEO Pat Gelsinger revealed that the Ohio fab will manufacture AI chips for Intel and potentially for other semiconductor companies as well.

Gelsinger expressed his confidence in the Ohio site’s potential, urging observers to visit and witness the extensive construction efforts underway. He emphasized the site’s ambition to become a leading manufacturing hub, particularly for AI chips, in the United States.

According to the Semiconductor Industry Association, GlobalFoundries, Microchip, and BAE Systems have already received funding under the CHIPS Act. TSMC is also expected to receive funding for a fab in Arizona, which will produce chips for Apple and AMD.

Josh Alba
Josh Alba
Josh Alba stands at the forefront of contemporary business journalism, his words weaving narratives that illuminate the intricate workings of the corporate world. With a keen eye for detail and a penchant for uncovering the underlying stories behind financial trends, Josh has established himself as a trusted authority in business writing. Drawing from his wealth of experience and relentless pursuit of truth, Josh delivers insights that resonate with readers across industries.
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