Intel to invest up to $100 billion in Ohio chip plants

FILE PHOTO: The Intel Corporation logo is seen on a display in a store in Manhattan, New York City, November 24, 2021. REUTERS/Andrew Kelly

WASHINGTON/SAN FRANCISCO (Reuters) -Intel Corp said on Friday it would invest up to $100 billion to build potentially the world's largest chip-making complex in Ohio, as it looks to boost capacity amid a global shortage of semiconductors used in everything from smartphones to cars.

The move is part of Chief Executive Officer Pat Gelsinger's strategy to restore Intel's dominance in chip making and reduce America's reliance on Asian manufacturing hubs, which have a tight hold on the market.