Here's why New Albany fabs aren't on Intel's expense chopping block

Even though Intel Corp. is slashing some $3 billion in 2023 expenses amid declining sales and projections of continued financial losses, constructi...

February 3, 2023
5:14 AM

Even though Intel Corp. is slashing some $3 billion in 2023 expenses amid declining sales and projections of continued financial losses, construction continues at its $20 billion semiconductor manufacturing complex in New Albany. The California chipmaker is "committed to innovating and investing in Ohio," the company told Columbus Business First. "Intel has historically invested during downturns," spokeswoman Linda Qian said via email. "We are building for the future." Intel (Nasdaq: INTC) last week reported both fourth-quarter and year-end sales well below its projections as well as a deeper-than-expected fourth quarter loss.

Carrie Ghose