https://www.reuters.com/technology/intel-delays-20-bln-ohio-project-citing-slow-chip-market-wsj-2024-02-01/
18 replies (most recent on top)
anyone remember Solyndra ?
they took a whopping 650 m subsidy from the Dept of Energy in 2009/10 …. built a very large factory in Fremont and tooled it out …. then tried to find customers ! guess what - they went bankrupt in sept 2011 and the factory was sold for cents on the dollar to an actual innovative company called Tesla . There are lessons to be learned here ….. PG is all doey eyed about his time with Andy Grove ….. just imagine how a 1-1 with Andy and PG would go today ??? His Focal would be “remedial action required”. It’s gonna be one of the biggest white elephants modern history, the reputation of a once great US company ruined for ever. So much goodwill lost that any break up won’t even fix that .
I’m proud of our teams and partners for how far we’ve come.
🤣
The only thing missing from this drivel is capital letters
Check the deluded spin from Keyvan yesterday. Delusion and disingenuousness, just like AI Everywhere and the rest of the their WOW announcements. They really must think people are compete id--ts . It’s Orwellian ….
We have marked the second anniversary of Intel Corporation's Ohio One mega-site announcement in January 2022. I’m proud of our teams and partners for how far we’ve come. Since breaking ground ahead of schedule in Sept. 2022, Intel has invested $3 Billion on this site project and construction has never stopped. The results of that work are remarkable to see.
As we've said before, the timeline for such massive projects in the semi-industry depends on various factors and business conditions. What is important to know is that Intel stands firm in its dedication to the Ohio One site and the amazing communities that surround it.
Our partnerships with local and state governments, as well as our suppliers, keep getting stronger every day. Intel is proud to be a part of Ohio's legacy, creating the Silicon Heartland and countless opportunities for the region. Congratulations to all our teams and partners on their amazing progress. I'm excited for more to come in 2024.
On the brighter side , soybeans are still over $12 bucks a bushel .
Just guesswork by WSJ so that stock price will go down and their masters will load up.
Have said it many times before , Ohio and Magdeburg are just photo opps and smoke and mirrors, to try and get their subsidies from the chips act - Intel’s mega investments and the chips act as a market enablement tool are both doomed to failure.
Any idea why this was not mentioned on earnings call?
Just a way for Intel to make a lot of noise and pretend like they are a growing company for a little while. No money to build these out, nor product demand.
It will be one of the nicest foundations, possibly even a car part , never nearly chip factory . same goes for magdeburg and Fab 38 … meanwhile massive debt will have been accumulated
Didn’t TSMC just announce they will double down and build another fab in AZ?
Intel is trying to jump ahead in line for money from the government.
Chips money is a bailout. Intel cannot take more debt to finance projects
This was expected. No big customers for foundry. Shell will be empty once built in 2026.
Not too surprising. Another reason cited was slow government subsidies. Interesting timing with the CHIPS act money supposedly starting to flow in March.
Oh man, I never would have guessed!
At this point I am wondering if the US Gubment still plans on granting CHIPS Act $$$ to Intel.
That is a HUGE surprise. What gives?
Ya think?