Struggling US chipmaker Intel has changed the timetable for completing two new chip plants in Ohio, saying it is taking a cautious approach to the $28 billion project.

Chip production at the company's first new plant in decades was due to start in 2025 but has been delayed until 2030.

"It is important to align the start of production at our factories with business needs and broader market demand. We will continue construction at a slower pace while maintaining the flexibility to accelerate work and start operations if customer demand warrants," said Intel Foundry Manufacturing general manager Naga Chandrasekaran.

For the full year 2024, Intel recorded a net loss of $18.8 billion as the US chip giant continues to struggle to take its place in the artificial intelligence revolution.

Intel is one of Silicon Valley's most iconic companies, but its fortunes have been eclipsed by Asian powerhouses TSMC and Samsung, which dominate the semiconductor business. | BGNES, AFP