TLDR:
- Intel announces $28+ billion investment for two chip factories in Ohio
- Project expected to create 3,000 Intel jobs and 7,000 construction jobs
- Stock rose over 4% following the announcement, trading at $23.31
- Largest private-sector investment in Ohio’s history
- Follows recent multibillion-dollar deal with Amazon for AI chips
Intel Corporation announced plans to invest more than $28 billion in constructing two new semiconductor manufacturing facilities in Licking County, Ohio. The announcement, made on Friday, triggered a 4% rise in the company’s stock price, reaching $23.31 per share in morning trading.
The investment represents the largest private-sector commitment in Ohio’s history and forms a crucial part of Intel’s IDM 2.0 strategy. This strategic move comes as the company works to strengthen its contract manufacturing business and compete more effectively with Taiwan Semiconductor Manufacturing Co (TSMC).
The Ohio facilities are expected to generate 3,000 permanent Intel positions and create approximately 7,000 construction jobs during the building phase. The company indicates that the project will support tens of thousands of additional jobs through its supplier and partner network.

This announcement follows Intel’s recent multibillion-dollar agreement with Amazon to develop custom AI chips for the tech giant’s cloud services division. The Amazon deal was viewed as a key endorsement of Intel’s foundry business, which has been operating at a loss.
The expansion comes during a challenging year for Intel. The company has faced several setbacks, including the suspension of its dividend and workforce reductions. Intel’s stock has declined more than 55% this year, raising concerns about its position in the Dow Jones index.
The new facilities will focus on producing advanced semiconductors to meet growing market demand. The investment aligns with Intel’s strategy to enhance its U.S. manufacturing presence and reduce dependence on overseas production.
Under CEO Pat Gelsinger’s leadership, the foundry business has become central to Intel’s recovery strategy. The company aims to regain its technological advantage over TSMC, which currently leads the contract chipmaking industry.
The Ohio investment demonstrates Intel’s commitment to expanding its domestic manufacturing capabilities. The project is designed to strengthen supply chain resilience within the United States.
The semiconductor market has seen unprecedented demand growth, driven by developments in artificial intelligence and cloud computing. Intel’s investment positions the company to capitalize on these market opportunities.
The new facilities will be located in Licking County, adding to Intel’s existing manufacturing footprint. The company plans to begin construction as part of its broader strategy to enhance production capabilities.
Intel’s stock performance showed immediate positive response to the announcement. Trading volume increased as investors reacted to the news of the expansion plans.
The company’s shares have experienced volatility throughout the year, with a 52-week high of $51.28 and a low of $18.51. Current trading levels reflect market response to Intel’s strategic investments.
The timing of the announcement coincides with increasing demand for semiconductor manufacturing capacity in the United States. The investment supports ongoing efforts to strengthen domestic chip production.
The project represents part of Intel’s broader initiative to revitalize its manufacturing capabilities. The company continues to focus on expanding its contract manufacturing services to compete in the global semiconductor market.
The latest investment announcement builds on Intel’s recent momentum following the Amazon partnership. The company moves forward with its strategic plans despite facing challenges in the current market environment.
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