Intel prepares for $100 billion spending spree across four US states

Intel is planning a $100 billion spending spree across four U.S. states to build and expand factories after securing $19.5 billion in federal grants and loans – and it hopes to secure another $25 billion in tax breaks. The centerpiece of Intel's five-year spending plan is turning empty fields near Columbus, Ohio, into what Chief Executive Pat Gelsinger described to reporters on Tuesday as "the largest AI chip manufacturing site in the world" starting as soon as 2027. The U.S. government announced the federal funds to Intel under the CHIPS Act on Wednesday.