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Intel (NASDAQ:INTC) has announced a setback in the construction schedule for its $20 billion chip manufacturing facility in Ohio.
The company had initially planned to commence construction on the Ohio project next year. However, the manufacturing plants are now anticipated to be completed by late 2026, as indicated in a recent WSJ report citing informed sources.
“Managing large-scale projects, especially in our industry, often involves adapting to changing timelines,” stated an Intel spokesman to the WSJ. “Our decisions are based on business conditions, market dynamics, and being responsible stewards of capital.”
Intel disclosed a $20 billion investment for a significant new manufacturing facility near Columbus, Ohio in January 2022.
Subsequent to an earlier report by WSJ that the Biden administration is likely to bestow billions of dollars in subsidies to Intel, Taiwan Semiconductor, and other semiconductor firms in the coming weeks for new factories, this latest delay raises questions about the company’s strategic direction.
