Intel readies for $100-billion spending spree across four US states

Figurines with computers and smartphones are seen in front of Intel logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/file photo

SANTA CLARA, California (Reuters) -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 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 CEO Pat Gelsinger described to reporters on Tuesday as "the largest AI chip manufacturing site in the world", starting as soon as 2027.