U.S. Bid to Revive Chip Manufacturing Collides With Wall Street’s Demands

Intel Corp.’s Patrick Gelsinger could be Washington’s favourite chief govt proper now. On the groundbreaking for a $20 billion-plus semiconductor-fabrication plant close to Columbus, Ohio, on Friday, he was joined by legislators from each events, Ohio Gov. Mike DeWine, a Republican, and President Biden, a Democrat.

“We’re going to build the most advanced stuff in the world, right here, in Ohio,” Mr. Gelsinger declared. “We put our chips on the table, to help the U.S. regain its manufacturing heart, as well as unquestioned technology leadership.”