Intel is delaying the development timeline for its $20 billion chipmaking venture in Ohio amid market challenges and the gradual rollout of US grant cash, the Wall Street Journal reported on Thursday.
Its preliminary timeline had chip-making beginning subsequent yr. Construction on the manufacturing amenities now will not be anticipated to be completed till late 2026, the report mentioned, citing folks concerned within the venture.
Shares of the chipmaker have been final down 1.5% in prolonged buying and selling.
“We are fully committed to completing the project, and construction is continuing. We have made a lot of progress in the last year,” an Intel spokesperson mentioned, including that managing large-scale tasks usually includes altering timelines.
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Uncertain demand for its chips used within the conventional server and private laptop markets had led the corporate to forecast income for the primary quarter beneath market estimates late final month.
This got here as a shift in spending to AI information servers, dominated by rivals Nvidia and aspiring AI competitor Advanced Micro Devices, sapped demand for conventional server chips – Intel’s core information middle providing.
Source web site: www.hindustantimes.com
