1/21, 11:08 AM (Source: TeleTrader)
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Intel to invest $20B in two chip factories in Ohio

Intel Corporation announced on Friday it will invest over $20 billion in two semiconductor factories in Ohio.

The construction of the two plants will begin in late 2022, while production is forecasted to start at the end of 2025, the company said in a statement.

"Today's investment marks another significant way Intel is leading the effort to restore US semiconductor manufacturing leadership," CEO Pat Gelsinger commented.

The company's shares were up by 0.63% in the premarket after the announcement.

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