Intel delays Ohio chip plant opening to next decade, was supposed to start production by 2026

Core Insights - Intel is delaying the opening of its Ohio chip manufacturing facility, with the first plant expected to be completed by 2030 and the second by 2031 [2][3] - The company is adjusting its production timeline to align with market demand and business needs, reflecting a strategic approach to capital management [3] - Intel has faced significant challenges, including a decline in stock value and disappointing quarterly results, leading to workforce reductions and management changes [4] Company Developments - The first plant in Ohio was initially scheduled to begin production in 2025, but this has been pushed back to 2030 or later [2] - The total investment in the Ohio complex could reach up to $100 billion, indicating a substantial commitment to semiconductor manufacturing [2] - Intel's stock lost more than 50% of its value last year, highlighting the company's struggles in the competitive semiconductor market [3][4] Government Support - Intel has been a key beneficiary of the CHIPS and Science Act, receiving approximately $8 billion in government grants to enhance semiconductor production in the U.S. [5]