Intel (INTC) has started construction on two new chip factories at its Ocotillo campus in Chandler, Arizona. Construction of the leading-edge factories is part of a $20 billion investment drive that will take investments in the state to over $50 billion. INTC shares rose 0.35% to close at $54.22 on September 24. The investment should result in more than 3,000 “high-tech, high-wage Intel jobs,” in addition to 3,000 construction jobs, while also supporting 15,000 indirect jobs to the local community. Markedly, once fully operational in 2024, the factories will manufacture the company’s advanced process technologies, including the Intel 20A.
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