US authorities underpaid Intel and delayed the construction of the plant

Intel postponed the groundbreaking ceremony for its Ohio chip plants because

The US government has not yet provided the company with funding. The ceremony, which was originally scheduled to take place on July 22, has been postponed to an undetermined date. Discuss

Earlier this year, Intel announced its plansto build two semiconductor manufacturing plants in New Albany, Ohio. The project cost $20 billion. The company noted that the plans "will be heavily dependent on funding under the CHIPS Act." This law sets aside $52 billion from the US government to fund semiconductor companies, including Intel. While the Senate and House of Representatives approved their versions of the bill, work to finalize it in Congress stalled.

As an Intel spokesman said:"Unfortunately, funding under the CHIPS Act is moving slower than we expected, and we still don't know when it will be done." At the same time, the company did not significantly change plans to start construction of its facilities. Construction is still due to start at the end of 2022 and production in 2025.