Intel's Ohio factory, originally expected to begin production in 2025, is now targeting operations in 2030–2031 as the chipmaker looks to expand U.S. manufacturing capacity.
- Intel's first Ohio chip factory is expected to complete construction in 2030, while a second facility is scheduled for completion in 2031.
- Intel Foundry reported $5.8 billion in second-quarter segment revenue, largely from internal business, alongside a $2.1 billion operating loss.
- Construction and equipment installation are underway at Intel's Fab 62 facility in Arizona.
Intel Corp. (INTC) said Wednesday it had installed the first major structural truss at its Ohio chipmaking facility, marking another construction milestone for a project running years behind its original production schedule.
Intel Foundry executive Naga Chandrasekaran called the development “another significant step toward expanded U.S. leading-edge semiconductor capacity” in a company post.
The Ohio project, involving planned investments exceeding $28 billion, was initially expected to begin producing chips in late 2025 when Intel announced it in 2022. As of this writing, INTC stock traded more than 1% higher.
Intel's Ohio Expansion Faces A Long Road
Intel's revised timeline calls for completing its first Ohio factory in 2030, with operations beginning between 2030 and 2031. Construction of the second factory is expected to finish in 2031, with operations starting in 2032.
Intel has slowed construction to align spending with customer demand, an approach continued under CEO Lip-Bu Tan, who further reduced the pace of work at the Ohio site in 2025.
Intel is seeking to expand its foundry business beyond manufacturing chips for its own products, although company filings show that the vast majority of its foundry operations still serve internal demand.
The division generated $5.8 billion in second-quarter segment revenue, up 31% year over year, but recorded an operating loss of approximately $2.1 billion. Most of the segment's revenue came from transactions within Intel.
Arizona Fab Targets Operations By 2028
Chandrasekaran also said in the post that construction and equipment installation were underway at Intel's Fab 62 facility in Arizona, with operations expected to begin by the end of 2028.
The expansion comes as Intel advances its 18A chipmaking technology, which entered high-volume manufacturing in 2025, while developing future processes for external customers.
Intel reported second-quarter revenue of $16.1 billion, up 25% year over year, and forecast third-quarter revenue of $15.8 billion to $16.8 billion.
The company is scheduled to report third-quarter earnings on October 29, with investors watching for updates on its foundry expansion, customer commitments, and manufacturing profitability.
Analysts are expecting revenue of $16.47 billion and earnings per share (EPS) of $0.40, according to FiscalAI consensus estimates. The company previously guided for revenue between $15.8 billion and $16.8 billion.
Retail Investors’ Sentiment Around INTC Stock
On Stocktwits, retail investors’ sentiment around INTC stock remained ‘neutral’.
So far this year, INTC stock has surged over 135%. By comparison, the Invesco NASDAQ 100 ETF (QQQM) and the VanEck Semiconductor ETF (SMH), which hold the stock, have risen around 18% and 50%, respectively, over the same period.
See Also: Apple Faces ‘Slightly Challenging’ Earnings Setup Near Record Highs, Morgan Stanley Says — Sees Limited Upside Potential
For updates and corrections, email newsroom[at]stocktwits[dot]com<
