Intel Delays $28 Billion Ohio Chip Plant Again, Pushing Opening to 2030 Amid Financial Struggles

Intel Corp INTC may not be able to make its chip fabrication plant debut in Ohio before 2030 or 2031.

The struggling chipmaker’s financial issues have prompted it to delay the construction of its $28 billion semiconductor project in central Ohio for the second time in 2025, TechCrunch reports.

Benzinga has reached out to Intel for comment and will update the story.

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The factory, one of two Intel plans to build in Ohio, was initially likely to begin operating in 2025. Intel might not likely be able to complete constructing the first factory in New Albany until 2030, Reuters reports. Reportedly, Intel has invested $3.7 billion locally.

Amid takeover rumors, Intel disclosed two notable initiatives this week. The chipmaker launched new Intel Xeon 6 processors with Performance cores across data center workloads and up to 2 times higher performance in AI processing to meet the demands of AI and high-performing and efficient computing.

Intel’s new ASML Holding ASML advanced extreme ultraviolet (EUV) lithography machines are in production. After lagging behind Taiwan Semiconductor Manufacturing Co TSM, Intel aims to regain its market. Intel plans to use ASML’s high NA machines for 18A chip technology, targeting commercialization in 2025 with advanced PC chips.

Intel stock plunged 43% in the last 12 months as it lagged to monetize the AI frenzy akin to Taiwan Semiconductor, thereby losing its veteran CEO Pat Gelsinger.

Last December, the chipmaker named CFO David Zinsner and general manager of Intel’s Client Computing Group Michelle Johnston Holthaus interim co-CEOs while the board hunted for a new CEO.

Price Action: INTC stock is up 1.17% at $23.36 at the last check on Friday.

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