Company Struggles With Shrinking Sales, Mounting Losses
Rendering of the planned facility. (Intel Corp.)
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Intel Corp. is further delaying the opening of a much-touted new semiconductor complex in Ohio, marking the latest setback to the chipmaker’s expansion plans.
The first plant, originally scheduled to begin operating this year, now won’t be completed until 2030, the company said in a statement Feb. 28.
The factory is slated to begin operations either that year or in 2031, Intel said. The completion of a second plant was postponed until 2031, with operations potentially starting the following year.
“As we continue to invest across our U.S. sites, it’s important that we align the start of production of our fabs with the needs of our business and broader market demand,” Naga Chandrasekaran, an Intel vice president and head of global operations, said in the statement. “This has always been our approach, as it allows us to manage our capital responsibly and adapt to the needs of our customers.”
Intel, the financially embattled chipmaker, has delayed the opening of its first Ohio factory to 2030 or 2031, multiple years after it was to open. https://t.co/q4c0nbVIJp — Columbus Dispatch (@DispatchAlerts) February 28, 2025
Intel, struggling with shrinking sales and mounting losses, has been scaling back efforts to add more manufacturing capacity. The Ohio site has been a symbol of the company’s comeback hopes — and a broader U.S. push to rebuild the country’s domestic chip production. Intel has had ambitions to turn it into the world’s largest semiconductor facility.
But the company’s plans have been in flux. Intel ousted CEO Pat Gelsinger last year and hasn’t named a new permanent leader. Investors have even been betting that the company may be sold in pieces — a scenario that has fueled a stock rebound this year after a steep decline in 2024.
The shares gained 4.4% to $24.10 as of 10:47 a.m. in New York on Feb. 28, bringing the year-to-date increase to about 20%.
The Columbus Dispatch previously reported on the plant delay.
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