(WSJ) Intel Corp. is reportedly seeking to invest more than $20 billion in Ohio’s new chip making facility.
The plans come amid heightened demand for digital products and chip shortages that have hit the globe.
The latest investment adds to Intel’s moves to bolster its chip-making, with the company already pledged at least $100 billion over the past year.
Intel is now seen to listen to calls by the White House for more chips as the market gravitates towards the lower-cost Asian countries. The investment is expected to create up to 3,000 permanent jobs in Ohio.
Intel is also seeking to revive its market control by becoming a leading manufacturer of chips after it was overtaken by Nvidia Corp. in 2020. Samsung Electronics also overtook the company as the largest chipmaker in 2021.
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