Intel delays $28 billion Ohio chip plants to 2030, aligns with market demand

Intel has announced significant delays in the opening of its chipmaking facilities in Ohio, with the first plant now expected to be completed in 2030 and the second by 2031. This marks a five-year postponement from the initial target of 2025, attributed to the need to align production with market demand and manage capital responsibly. The delays come amid a challenging period for Intel, which has seen its stock value drop significantly, prompting speculation about potential acquisitions by competitors like TSMC and Broadcom. Despite these setbacks, shares of Intel rose slightly following the announcement, as investors interpreted the delay as a prudent strategy. Local officials expressed disappointment but remain optimistic about the project's long-term benefits for domestic semiconductor manufacturing. Construction continues at a moderated pace, with Intel focusing on workforce development in collaboration with educational institutions.