Intel Announces $28 Billion Investment in Ohio Chip Factories
The tech giant plans to build two new facilities to bolster its foundry business and regain its competitive edge.
- Intel's investment in Ohio marks its largest private-sector commitment in the state to date.
- The project is expected to generate 3,000 new jobs in its initial phase.
- This move is part of Intel's strategy to revitalize its foundry business and compete with TSMC.
- The company is aiming to secure $8.5 billion in federal grants through the CHIPS Act.
- Intel's stock has risen slightly despite a challenging year marked by workforce reductions and halted dividends.
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