Intel to invest $20 bn to build 2 new chip factories in US

Chip-maker Intel stated that it will invest more than $20 billion to build two new factories int US for advanced chipmaking.

The initial phase of the project in New Albany near Columbus, Ohio, is expected to create 3,000 Intel jobs and 7,000 construction jobs over the course of the build.

Pat Gelsinger, CEO of Intel said, "Intel's actions will help build a more resilient supply chain and ensure reliable access to advanced semiconductors for years to come."

The company pledged an additional $100 million toward partnerships with educational institutions to build a pipeline of talent and bolster research programmes in the region.

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Intel added that planning for the first two factories will start immediately, with construction expected to begin late in 2022.

(With inputs from IANS)