Back in 2009, Intel eagerly said that it was going to build a new processor fabrication plant in Arizona, and was going to spend $7 billion / €5.15 billion on it.
Fast forward to the present and you have Chipzilla reaching the conclusion that it’s all been a waste of time and money.
Since, apparently, the PC market is dying, so is the CPU market and, thus, the factory won’t be needed. "It boils down to better capital utilization" Intel told Reuters.
As it stands, Fab 42 (as the factory is being called) will stay closed while Intel upgrades other facilities at the same site (Chandler, Arizona).
Proof that a lot can change in 4 years. I’m not sure what this development means for the 1,000 people (or more) that were hired at the plant since construction began in 2011.