Over the last couple of years, Intel laid out big plans for the Buckeye State. 🏭 They promised a ton of jobs and economic growth for Ohio, but…are they really all that and a bag of (semiconductor) chips? 🧐
Recent news has us wondering. Pull up a seat and come get some of this piping hot tea. ☕
Here’s Five Fast Facts on what’s going on with Intel’s plans in Ohio:
- 📉 Coming Up Short - In a recent message, Intel’s CEO Lip-Bu Tan revealed the company isn’t stacking up with its competitors. Compared to big shot Nvidia who just reached a $4T valuation, Intel’s sitting at a market value of $100B.
- 👋 Pink Slips - In light of things not going according to plan, Intel has started layoffs in Arizona, California, and Oregon. Although they haven’t yet hit Ohio, Intel’s manufacturing arm has plans to layoff up to 20% of that workforce. No official word from the company as to if/when this will impact Intel workers in the Buckeye State.
- 💾 Down a Notch - According to Tan, Intel may be too far behind competitors to become a top semiconductor company. Although the company was a pioneer in the space 30 years ago, times have changed. Tan believes turning the company around will be a long game and feels a “smaller Intel” will get things done.
- 🤔 Up In the Air - Intel’s original plans for Ohio were to make the state a semiconductor chip manufacturing ground zero. Manufacturing operations were going to take place at Intel Ohio One. While the new plant is still being built, it’s unclear as to what the facility will be used for when it’s finished.
- 🤖 Mr. Roboto - So where is Intel pivoting? Tan wants the company to focus on state of the art AI tech. This includes “edge” AI that develops algorithms on a device instead of data centers and agentic AI that can make decisions on its own.
🔥Bottom line: What can we make of these developments? Suppose we should let the (semiconductor) chips fall where they may! While we’re keeping the pulse on Buckeye State business, construction workers just got a new way to check if they’re getting a fair wage. All you gotta do is hop online. Head here for all the details!
What do you think this news means for Intel’s future?
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