Nvidia’s $5 billion Intel deal fuels optimism for Ohio One Project

Intel’s Ohio campus | Photo Credit: Intel

Ohio’s most ambitious tech project just got a new jolt of momentum. Nvidia, the world’s most profitable chipmaker, is investing $5 billion in Intel and teaming up on new PC and data center chips. It’s a partnership that, while not directly tied to Intel’s Ohio One campus, is raising optimism about the long-term future of the $28 billion project.

Why it matters

Intel’s Ohio One project, first announced in 2022 as the largest private investment in state history, has faced delays. Originally expected to open this year, the first fabs are now slated for 2031. Intel has slowed construction while it works to attract external customers to its Foundry business, which operates the Ohio site.

The full vision for Ohio One is sweeping: Intel plans to invest more than $28 billion to build two new leading-edge chip factories on a nearly 1,000-acre “mega-site” in New Albany, just outside Columbus. The site could eventually expand to eight factories, along with supporting operations and ecosystem partners — positioning Ohio to play a central role in the nation’s semiconductor supply chain.

What leaders are saying

U.S. Senator Jon Husted said the Nvidia partnership could support Ohio in the long term. “Intel has said all along that for them to move forward with the fabs in Ohio, that they’re going to need a customer,” Husted told WCMH Columbus . “And this is the perfect customer, this is the partnership I was, frankly, rooting for.”

The big picture

Nvidia’s partnership is focused on Intel’s Products division, not the Foundry arm running Ohio One, though future collaboration has not been ruled out.

Intel CEO Lip-Bu Tan has said the Foundry’s future relies on winning external clients for its new process technology debuting in 2027. Without those customers, Intel has acknowledged it may have to reconsider Ohio One.

The announcement follows the federal government’s acquisition of a roughly 10% stake in Intel as part of its CHIPS Act push to strengthen domestic semiconductor manufacturing.

What’s next

While work remains to be done, Ohio leaders say the latest moves put Intel on stronger footing. With federal backing, Nvidia’s support, and the scale of Ohio One, the state is better positioned than ever to play a central role in America’s semiconductor future.