Intel announced on January 22 that it will initially invest $20 billion to build two chip fabs, and plans to increase the investment to $100 billion later to build the world's largest chip manufacturing base in Ohio, USA.
Intel CEO Pat Gelsinger said the $20 billion upfront investment is the largest in Ohio's history and will create 3,000 jobs on the 1,000-acre site in New Albany. He said the investment could grow to $100 billion for the construction of eight fabs, which would also be the largest investment on record in Ohio.
Gelsinger said the region will be the heartland for chips, possibly the largest chip manufacturing site on the planet. In addition, he said he hoped to announce another large manufacturing base in Europe in the coming months.
While chipmakers are ramping up production, Intel's new Ohio factory will not ease the current chip shortage anytime soon, as factories take years to build.
Gartner analyst Alan Priestley said the industry is indeed growing, and perhaps the Metaverse can help address the world's demand for the chip industry. However, a huge bubble is coming.
