Newscenter Media News Intel’s cautious planning for their $28 billion project has caused them to delay the completion of two new chip manufacturing factories in Ohio, moving the project timeframe from 2025 to 2030.
By adjusting its construction speed to meet market and business demands, the organization is enabling flexibility to speed up operations in the event that consumer demands increase.
Due to its financial difficulties, which include a $18.8 billion deficit in 2024, Intel’s position in the semiconductor market is impacted by competition from market giants like TSMC, Samsung, and Nvidia.
READ ALSO: Elon Musk-owned xAI to release latest chatbot, Grok 3, tagged ‘smartest AI on Earth’
According to a statement from Intel, chip manufacturing at its first new “fab” in decades, which was once scheduled to begin in 2025, is now anticipated to commence in 2030.
“It’s important that we align the start of production of our fabs with the needs of our business and broader market demand,” Intel Foundry Manufacturing general manager Naga Chandrasekaran said in a message to employees shared by the company.
“We will continue construction at a slower pace, while maintaining the flexibility to accelerate work and the start of operations if customer demand warrants.”
The post Intel postpones completion of $20bn chip factory due to financial difficulties appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.