Struggling US chip maker Intel on Friday pushed out the timeline for completing two new fabrication plants in Ohio, saying it is taking a prudent approach to the $28 billion project.
Intel (INTC) said it plans to push back the opening of two chipmaking facilities currently under construction in Ohio.
Intel is delaying the opening of its Ohio chip manufacturing facility, the embattled chipmaker said Friday. Intel said it won't complete construction on the first plant until 2030, starting operations that year or the next.
Wealth host Brad Smith tackles a variety of top market stories while chatting with a menagerie of Wall Street personalities. Mike Cagney — the founder and CEO of Figure Markets and former SoFi (SOFI) chief executive — sits down with Yahoo Finance Executive Editor Brian Sozzi at the Bitcoin Investor Week conference to talk about how traditional finance principles are finding their way onto the blockchain.
Intel's recent financial performance has been poor, with significant declines in revenue, operating income, and net income, raising concerns about its future profitability. Despite current struggles, I believe Intel is a long-term "Buy" due to its undervaluation and potential for a turnaround with new products like Panther Lake and Nova Lake. Rumors of a breakup and acquisition by Taiwan Semiconductor and Broadcom have driven recent stock price increases, reflecting changing market sentiment.
Intel's promised $28 billion chip fabrication plant may not be completed until 2030 and would begin operations sometime shortly thereafter in either 2030 or 2031, local media outlet the Columbus Dispatch reported on Friday.
Recently, Zacks.com users have been paying close attention to Intel (INTC). This makes it worthwhile to examine what the stock has in store.
Intel (INTC -0.70%) stock was gaining ground early in Thursday's trading, but traded lower later in the day. The semiconductor specialist's share price was down 1% as of 3:45 p.m.
On Thursday, Taiwan Economy Minister Kuo Jyh-huei told Reuters that Taiwan Semiconductor Manufacturing Co TSM would need government permission for overseas joint ventures.
Chip giant Intel (INTC -5.27%) has tried and failed to break into the lucrative AI accelerator market that's dominated by Nvidia. The company's Gaudi family of AI accelerators had potential, and Intel priced them aggressively, but sales were snarled by an immature software ecosystem.
Shares of Intel (INTC -3.46%) are falling on Tuesday. The stock lost 4.1% as of 12:20 p.m.
With industry-leading performance in AI processing, the Intel Xeon 6 family delivers the industry's best CPU for AI at a lower TCO.