WASHINGTON/SAN FRANCISCO, Jan 21 (Reuters) – Intel Corp said on Friday it would invest up to $100 billion to build potentially the world’s largest chip-making complex in Ohio, looking to boost capacity as a global shortage of semiconductors affects everything from smartphones to cars.
The move is part of Chief Executive Officer Pat Gelsinger’s strategy to restore Intel’s dominance in chip making and reduce America’s reliance on Asian manufacturing hubs, which have a tight hold on the market.
Dubbed the silicon heartland, it could become “the largest semiconductor manufacturing location on the planet,” he said.
Gelsinger reiterated on Friday he expected the chip shortages to persist into 2023.
To dramatically increase chip production in the United States, the Biden administration aims to persuade Congress to approve $52 billion in subsidy funding. read more
U.S. President Joe Biden touted Intel’s investment on Friday at a White House event with Gelsinger and again made the case for congressional action.
“China is doing everything it can to take over the global market so they can try to out compete the rest of us,” Biden said.
