President Biden announced a major investment in U.S. semiconductor manufacturing during a visit to Intel's Ocotillo Campus in Chandler, Arizona.

Intel secured federal grants and loans for a $100-billion investment across four states, including a significant AI chip factory in Ohio.

The investment is projected to create approximately 20,000 construction jobs, 10,000 manufacturing jobs, and 3,000 jobs in Phoenix, with high average salaries.

Intel's initiative focuses on producing advanced chips for AI, quantum computing, and next-generation 6G communications.

Intel also plans to upgrade sites in New Mexico and Oregon and to increase its Arizona operations.

Competitors TSMC and Samsung are anticipated to reveal similar funding agreements with the U.S. government.

Intel CEO Pat Gelsinger highlighted the importance of additional U.S. funding to regain global leadership in semiconductor manufacturing.