Electronics

On January 22, Intel said on Friday that it will initially invest $20 billion to build two chip manufacturing plants in Ohio, and plans to eventually invest as much as $100 billion to build the world's largest chip manufacturing base in Ohio.

According to reports, Intel CEO Henry Kissinger said that Intel will produce some of the most advanced processors at the new site. Planning for the first two plants will start immediately, with construction expected to begin later in 2022 and production to begin in 2025, he said. The company has also committed $100 million to partner with educational institutions to build talent pipelines to support research projects in the region.

Kissinger points out that the semiconductor industry, with total annual sales of just over $500 billion, is expected to double by 2029. As CEO, he said, his goal is to expand Intel's share of this growing market, so investment and capacity expansion must more than double.

The supply gap could continue into next year and possibly into 2024, but there are signs of easing in the coming months, Kissinger said.