On September 10, according to the Nikkei News, Intel officially broke ground on Friday at its $20 billion chip production base in Ohio. A month ago, the United States issued incentives to help its semiconductor industry better compete with Asian rivals such as TSMC and Samsung Electronics.

It is reported that Intel's two new chip manufacturing plants will cover nearly 1000 acres in Licking County. The company said that the total investment in the factory in the next ten years could reach 100 billion US dollars, making it one of the largest semiconductor manufacturers in the world.

US President Joe Biden attended the groundbreaking ceremony of Intel's new semiconductor manufacturing plant in Ohio.

"China, Japan, South Korea, the European Union and others are investing tens of billions of dollars to attract chip manufacturers to their countries, but industry leaders have chosen the United States," US President Joe Biden said at the foundation ceremony after leaving Washington for Ohio on Friday.

According to the report, Biden signed the $280 billion Chip and Science Act last month, including $52 billion in support for the semiconductor industry. However, this fund has additional conditions: any subsidized company shall not conduct "major transactions" within 10 years to significantly expand its chip manufacturing capacity in China or any other countries of concern.

Intel has been the main advocate of the chip bill, and blamed the delay of the bill for its decision to delay indefinitely the ground breaking of the Ohio factory. Previously, its Ohio plant was scheduled to start construction in late July.

Pat Gelsinger, CEO of Intel, said, "This groundbreaking has proved the joint strength of public and private enterprises, because it (the Chip Act) is so important to the country“

In addition to its $20 billion investment in Ohio, Intel plans to expand by $20 billion in Arizona. Because it is striving to win customers from TSMC, the world's largest wafer foundry, and Samsung, the second largest in the world.

However, Intel's chip manufacturing business is progressing slowly. The company reported that in the second quarter ended June, the revenue of its OEM business unit fell by 54% year on year.