Intel

Even as the federal government hands out its long-awaited CHIPS and Science Act money to projects in Ohio and other states, Intel’s chief executive officer is out the door after only four years in charge.

Intel CEO Pat Gelsinger has retired, with David Zinsner and Michelle Johnston Holthaus named as interim Co-CEOs. Gelsinger, whose career has spanned more than 40 years, also stepped down from the company’s board.

Steve Stivers, CEO of the Ohio Chamber of Commerce, spoke with WOSU and said Wednesday is a good day for Ohio after the federal government released billions of dollars for chip manufacturing facilities in New Albany and other states.

The amount is less than the $8.5 billion in direct funding President Joe Biden announced in March for the Intel project in New Albany and three other states.

The Biden administration plans on reducing part of Intel's $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private conversations.

President Joe Biden announced in March that nearly $20 billion in CHIPS Act money would be spread across Intel projects in Licking County, Arizona, Oregon and New Mexico.

Gov. Mike DeWine said Thursday he's been in touch with Intel CEO Pat Gelsinger and sees no signs of trouble for the $20 billion project in Ohio as the chip maker cuts costs globally.

A deal between AEP Ohio and Intel to have AEP Ohio's customers foot the $95-million bill for the new electric infrastructure Intel needs is gaining more support.

State officials and business leaders aren’t sounding any alarm bells on the tech giant’s progress to build a $20 billion manufacturing facility in central Ohio.

Intel and AEP Ohio have come to an arrangement for how the chip manufacturer will pay the electric company for services. The agreement relies on AEP Ohio's customers to foot the bill.