Intel Pushes Back Ohio Chipmaking Plant Opening by Four Years to 2030 | Global News Avenue

Intel(INTC) said it plans to postpone the opening of two chip manufacturing facilities currently under construction in Ohio.

The troubled chip maker now expects two factories on the Ohio One campus to be completed in 2030 and 2031, Intel’s global chief global operations officer Naga Chandrasekaran said in an open letter to employees on Friday. A year ago, the company said its goal was to complete the $28 billion project in 2026, which has delayed its initial 2025 goal. Intel broke the project in 2022.

“As we continue to invest in our U.S. website, it is important that we must start to align our factory production with our business needs and the broader market demand,” Chandrasekaran said, adding that the future could accelerate buildings “if the customer demand is”.

Delays are because Intel’s troubled casting business has been Collect guesses. TSMC(TSMThe world’s largest chipmaker has reportedly considered using some or all of Intel’s chip factories as part of an investor consortium or other structure. Broadcom (avgoIt is also reportedly aimed at buying Intel’s chip design and marketing business.

Intel’s stock has barely changed in Friday’s expanded trading after climbing nearly 3% in regular meetings. They have lost nearly half of their value in the past 12 months.