Posted on 02/02/2024 5:19:42 AM PST by FarCenter
Feb 1 (Reuters) - Intel (INTC.O), opens new tab is delaying the construction timeline for its $20 billion chipmaking project in Ohio amid market challenges and the slow rollout of U.S. grant money, the Wall Street Journal reported on Thursday. Its initial timeline had chip-making starting next year. Construction on the manufacturing facilities now is not expected to be finished until late 2026, the report said, citing people involved in the project.
(Excerpt) Read more at reuters.com ...
Hard to attach larger meaning to individual economic signs. But feels like we are seeing more of these.
I wonder just how serious China’s economic woes are today and what risk of contagion to our economy and the world if China takes a deep dive?
Grant money? Who isn’t at the feed trough besides oil and gas? We pay full price.
Add this to TSMC delays $40 billion chip plane in Arizona.
America misses Trump’s booming economy.
Intel has been making successful processor chips for the last half century (with the 4004 microprocessor in 1974). China seems intent on to taking over Tiawan, the producer of a high percentage of all of the chips used in the US. This may take place in the near term, maybe even while Biden is still in office.
This plant should not be delayed. If there were ever a case to use the Defense Production Act to accelerate this plant, this is it. The US should give Intel a carryover loan to continue this plant, and charge no interest until it is producing a profit from it.
Intel has been making successful processor chips for the last half century (with the 4004 microprocessor in 1974). China seems intent on to taking over Tiawan, the producer of a high percentage of all of the chips used in the US. This may take place in the near term, maybe even while Biden is still in office.
This plant should not be delayed. If there were ever a case to use the Defense Production Act to accelerate this plant, this is it. The US should give Intel a carryover loan to continue this plant, and charge no interest until it is producing a profit from it.
__________________________________________
that would be a maga move...not a biden move
Agreed....
My cousin just finished his stint as a weld inspector on the project that is bringing a dedicated gas line to the new Intel facility near Columbus Ohio.
Oops.
The last time they did this was when they “delayed” the Austin fab.
It sat there abandoned for 10 years till they tore it down.
Intel is among the wokest of the woke.
“Shovel ready wasn’t so shovel ready.”
The kiss of death to any company was Obama promoting it. Now, it is Chomo Joe sniffing a business.
I feel bad for the school districts around the Intel plant who were preparing for a mass influx of H1B Indian, Pakistani and Chinese students who’s parents would be working there.
Now they will just have to teach the regular old American kids. Probably a lot less federal funding for that.
The TSMC delay in Phoenix is mainly due to TSMC not realizing how long it would take to get things done in the US. I don’t think that the demand for foundry capacity at TSMC has faded too much, since they will fabricate chips for any customer using a variety of technologies.
Intel mostly fabricates chips of its own design. Their problem is that they are experts at making PC and server chips, but the market has moved on to smartphone processors, graphical processing units, artificial intelligence processors, and custom chips using ARM and RISC V cores instead of Intel instruction set cores. They are trying to get into the foundry game, but they have a long way to go.
Intel is the enemy of civilization:
https://download.intel.com/newsroom/kits/diversity/pdfs/Intel_LGBTQ_Initiative_backgrounder.pdf
https://www.intel.com/content/www/us/en/corporate-responsibility/social-equity.html
Only Americans are dumb enough to subsidize people who hate our guts.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.