Sep 25, 2021 3:59 PM EDT
Intel broke crushed connected 2 caller machine spot factories successful Arizona arsenic portion of a $20 cardinal task to assistance conscionable the precocious request for semiconductors successful the U.S.
Intel (INTC) - Get Intel Corporation (INTC) Report on Friday broke crushed connected 2 caller machine spot factories successful Arizona arsenic portion of a $20 cardinal task to help alleviate the terrible shortage of semiconductors successful the U.S.
The Santa Clara, Calif.-based semiconductor spot manufacturer's CEO Pat Gelsinger led the project's groundbreaking ceremonial astatine the company's Ocotillo field successful Chandler, Ariz., marking the largest backstage concern successful the state's history.
Intel expects the factories to beryllium afloat operational successful 2024 to manufacture the company's astir precocious process technologies.
“Today’s solemnisation marks an important milestone arsenic we enactment to boost capableness and conscionable the unthinkable request for semiconductors: the foundational exertion for the digitization of everything," Gelsinger said successful a company statement. "We are ushering successful a caller epoch of innovation – for Intel, for Arizona and for the world. This $20 cardinal enlargement volition bring our full concern successful Arizona to much than $50 cardinal since opening the tract implicit 40 years ago.
"As the lone U.S.-based leading-edge chipmaker, we are committed to gathering connected this semipermanent concern and helping the United States regain semiconductor leadership,” Gelsinger said.
Shares of Intel connected Friday traded 0.18% higher to $54.32 aft hours.
Gelsinger connected Thursday participated successful a virtual gathering with tech institution executives and Commerce Secretary Gina Raimondo to code the planetary semiconductor spot shortage, which has interfered with accumulation successful the high-tech, electronics and automotive industries.
The 2 caller factories, to beryllium named Fab 52 and Fab 62, volition location a full of six semiconductor fabs. The task volition make implicit 3,000 high-tech, high-wage Intel jobs, 3,000 operation jobs and enactment an estimated 15,000 further indirect jobs successful the section community.
Intel rival Taiwan Semiconductor Manufacturing Co. plans to build its 2nd U.S. spot mill besides successful Arizona and targets accumulation to statesman successful 2024.