The US government is considering taking a stake in Intel to aid the company's efforts in expanding its U.S. manufacturing, particularly regarding the delayed Ohio facility. The launch date for this facility has been pushed back to 2030-2031, despite initial projections for an earlier opening. Intel has faced significant issues over recent years, experiencing a decline in market value, layoffs, and restructuring. Recent meetings between Intel's CEO and President Trump have reportedly been constructive, with Intel expressing commitment to supporting U.S. technology and manufacturing efforts.
Intel has experienced significant troubles in recent years, falling behind competitors such as AMD and, notably, Nvidia, since the advent of the generative AI race.
The proposed deal aims to support the company's efforts to expand manufacturing operations across the US, particularly in its delayed Ohio manufacturing facility.
While initially touted to open this year, the company has repeatedly pushed back the launch date, now admitting the Ohio site wouldn't become operational until 2030-2031.
In a statement given to Bloomberg, a spokesperson for Intel said the company is "deeply committed to supporting President Trump's efforts to strengthen US technology and manufacturing leadership."
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