Intel has postponed the opening of its $28 billion chip plants in Ohio to between 2030 and 2032, citing a need for financial responsibility amidst various challenges. Initially planned for a 2025 launch, delays arose from funding issues and the company's tumultuous past year marked by layoffs and leadership changes. Despite completing some foundational work, the company is adopting a cautious pace in construction, ensuring flexibility to adapt to market demands as it continues its investment of $3.7 billion in the project.
"We are taking a prudent approach to ensure we complete the project in a financially responsible manner," Chandrasekaran said in the post.
Intel has invested $3.7 billion into its Ohio chip plants since 2022.
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