From left: U.S. Rep. Joyce Beatty of Columbus, Intel CEO Pat Gelsinger, President Joe Biden, Ohio First Lady Fran DeWine and Gov. Mike DeWine learn about the Intel plant under construction outside Columbus, Ohio, on Friday, Sept 9, 2022. CLEVELAND, Ohio – As construction on two Intel microchip plants continues east of Columbus, questions swirl around the storied company’s faltering business plan and whether its Ohio project is at risk.
Rasgon elaborated on that uncertainty in a report to clients shortly after Gelsinger’s departure was announced. The semiconductor industry would like to have more competition at the leading edge of manufacturing, Seymore said. At the same time, the federal government would like that increased capacity to be constructed in the United States for security reasons.
Earlier this year, the company talked about expecting $40 billion in foundry revenues by 2030 of which $15 billion would be from fabricating other companies’ chips, Rasgon said, adding sarcastically, “Good luck with that.”Intel does have federal support for its expansion plans, although it’s not that much money relative to the massive costs associated with building new chip plants, Rasgon said.
“Billions of dollars have been invested at the Ohio One site in Licking County, including multiple loads of equipment coming north from the Ohio River to the site,” read a joint statement from DeWine and Lt. Gov. Jon Husted after Gelsinger departed. “Now that the CHIPS Act funding has been announced, we anticipate the project will continue to move ahead quickly.”