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Intel foresees spending up to US$100 billion to expand the company’s operations

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4 weeks ago

April 2, 2024

James Williams

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Intel foresees spending up to US$100 billion to expand the company’s operations-Last Wednesday (20), Intel released its plans for the company’s near future after confirmation, by the American government, of subsidies destined for the chip sector; The new CHIPS law provides for a strategy by the American government to intensify the production of the technology, as well as its refinement, within the country itself and using Intel to do so. The American company has already announced that it will direct the US$100 billion to 4 states in the USA, which will be used to expand the company’s operations in Arizona, renovate facilities in Oregon and New Mexico, in addition to building new buildings in Columbus, Ohio with 30 % of the entire budget made available by subsidies. After the news began circulating, Intel shares rose about 4% in pre-market trading.

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_{Chip developed by Intel in 2006 presented on panel (Photo: reproduction/Getty Images Embed)}

Why Intel

The American company led the chip production sector, as well as being the pioneer in technology, investing in research and product development, in addition to production for the whole world. The company, however, lost its lead in 2010 to the Taiwanese company TSMC, flattening Intel’s profits; In addition to TSMC, Intel also competes with the South Korean giant Samsung. The expectation with this new wave of subsidies is that the company will regain first place from 2027, the year in which the new Ohio factory will be ready.

Intel CEO’s statement

Pat Gelsinger, the executive president of the American company, gave an interview last Tuesday (19) in which he stated the company’s forecast of becoming the largest chip manufacturer in the world from 2027; however, the executive also warns of possible problems along the way: “It took us more than three decades to lose this sector. It won’t come back in three to five years of CHIPS Act funding”. Furthermore, he called the subsidies “smart capital”, as it is low-interest financing aimed at the medium term.

Featured photo: an Intel chip, the merchandise is one of the most important technological products at the moment (reproduction/Slejven Djurakovic/Unsplash)

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