Intel to Build $20 Billion Chip Factories in Ohio

US chip maker Intel will spend $20 billion to build two new factories in Ohio. Callanish learned about this from the announcement of the company.

Semiconductor factories are receiving $100 million in educational funds "to create a flow of talent and support research programs in the region," the company said.

Construction will begin at the end of this year and be completed in 2025.

The ongoing shortage of semiconductors is one of the main bottlenecks in the production of electric vehicles. This has also affected the traditional automotive sector since at least mid-2020. Semiconductors are one of the main components of electronic circuits.

"Intel's actions will help build a more resilient supply chain and secure access to cutting-edge semiconductors for years to come," says CEO Pat Gelsinger. “Intel is bringing cutting-edge capabilities and capabilities back to the United States to strengthen the global semiconductor industry. These facilities will create a new epicenter for advanced chip manufacturing in the US, strengthening Intel's internal lab-to-manufacturing pipeline and solidifying Ohio's leadership in research and high technology."