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Intel's chip contracting plan in spotlight on earnings day - The Economic Times

Economic Times

Economic Times · 16d ago

Intel's chip contracting plan in spotlight on earnings day - The Economic Times

Intel is facing a downturn with declining sales and consecutive net losses. CEO Lip Bu-Tan's focus on enhancing its chip contract manufacturing business, including a shift to the 14A chipmaking process, is under scrutiny. Intel aims to make its foundry unit break even by 2027, but potential writedowns could impact this timeline. The company is also selling non-core assets to streamline operations amid challenging market conditions and global trade uncertainties.

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Related News

Intel disappointed investors. For corporate customers, it’s still good enough

Livemint

Livemint · 1y ago

Intel disappointed investors. For corporate customers, it’s still good enough

Intel's recent poor quarterly earnings have raised concerns about the company's long-term future. The chip maker reported a loss of $1.6 billion for the second quarter and plans to lay off about 15,000 employees as part of cost-saving measures. Intel's struggles to keep up with other tech giants like Cisco, Microsoft, and Dell, and its lack of presence in the AI chip market, have left corporate technology chiefs questioning the company's viability. However, for now, Intel still dominates the PC and server market, and its brand is still recognizable and trusted.

Intel results to spotlight new CEO Tan's strategy to reverse years of missteps

Economic Times

Economic Times · 3m ago

Intel results to spotlight new CEO Tan's strategy to reverse years of missteps

Intel's results will reveal new CEO Lip-Bu Tan's strategy to reverse past missteps, amid declining sales and competition from AMD and Nvidia. Tan, facing U.S.-China trade tensions, aims to streamline operations and focus on manufacturing investments. Intel struggles in the AI market but hopes strategic changes will help. Despite anticipated revenue drops, the CEO’s plan includes optimizing leadership and production. Investors seek reassurance in Intel’s turnaround potential under Tan's guidance.

Intel CEO Pat Gelsinger to pitch board on plans to shed assets, cut costs

Economic Times

Economic Times · 11m ago

Intel CEO Pat Gelsinger to pitch board on plans to shed assets, cut costs

Intel CEO Pat Gelsinger is set to present a plan to the company's board of directors for restructuring and cost-cutting measures. The plan includes selling off unnecessary businesses such as its programmable chip unit Altera, in order to reduce costs and revive the struggling chipmaker's fortunes. The proposal does not currently include plans to sell off Intel's contract manufacturing operation. The company is also considering pausing or halting its $32 billion factory project in Germany. Intel has hired Morgan Stanley and Goldman Sachs to advise on potential sales. The board meeting in mid-September will play a crucial role in determining Intel's future direction.

Intel should have focused on AI rather than chipmaking, TSMC founder says

Economic Times

Economic Times · 8m ago

Intel should have focused on AI rather than chipmaking, TSMC founder says

Intel's focus on becoming a contract chipmaker rather than artificial intelligence may have been a misstep, according to Morris Chang, founder of Taiwan Semiconductor Manufacturing Co. While he was unsure why Pat Gelsinger left Intel, he suggested that the company needed a new strategy alongside a new CEO. Gelsinger's plan to regain Intel's leadership in chip manufacturing for other companies, known as "foundry," was not successful. Chang stated that AI should have been the primary focus instead. Intel has yet to announce a new strategy or CEO.

Broadcom, TSMC eye possible Intel deals to split storied chipmaker

Economic Times

Economic Times · 5m ago

Broadcom, TSMC eye possible Intel deals to split storied chipmaker

Intel's chipmaking operations may face potential restructuring as rivals Broadcom and TSMC consider deals to split the company, according to the Wall Street Journal. Broadcom is exploring Intel's chip-design and marketing business, contemplating a partnership for its manufacturing division. Meanwhile, TSMC is evaluating a stake in Intel's chip plants. The discussions are preliminary and informal, with no collaborative efforts between Broadcom and TSMC. All companies involved have not commented on these developments.

Washington curtails Intel's chip grant after company stumbles

Economic Times

Economic Times · 8m ago

Washington curtails Intel's chip grant after company stumbles

The Biden administration plans to decrease Intel's federal CHIPS grant from $8.5 billion to less than $8 billion due to investment delays and Intel's business struggles. The change in funding also considers a $3 billion contract Intel has been offered to produce chips for the U.S. military. This decision follows Intel's decision to delay investment in chip facilities and its efforts to reduce costs. The goal of the CHIPS Act is to increase domestic chip manufacturing, but Intel's challenges have complicated its negotiations for the grant.

New Intel CEO Lip-Bu Tan will pick up where Pat Gelsinger left off

Arstechnica

Arstechnica · 4m ago

New Intel CEO Lip-Bu Tan will pick up where Pat Gelsinger left off

Intel has appointed Lip-Bu Tan as the new CEO, replacing Pat Gelsinger after his ousting due to financial losses and restructuring moves. Tan, previously on Intel's board, will start on March 18, continuing the plan to transform Intel into a chip foundry competing with giants like TSMC. The company faces challenges, including an $18.76 billion loss in 2024 and reliance on the US government's CHIPS Act for funding its revival strategy.

Intel Shares Surge the Most Since 2023 on Breakup Speculation

Livemint

Livemint · 5m ago

Intel Shares Surge the Most Since 2023 on Breakup Speculation

Intel's shares surged by as much as 11% amid speculation of a potential breakup involving Taiwan Semiconductor Manufacturing Co. (TSMC) and Broadcom Inc. TSMC is reportedly considering operating Intel's US factories, while Broadcom may bid for Intel's chip-design and marketing business. This speculation revitalizes previous discussions on Intel's structural split. Intel, facing competition setbacks, saw its stock rise significantly due to these prospects. However, such plans remain in preliminary stages.

Intel’s CEO Says AI Is the Key to the Company’s Comeback

Wired · 1y ago

Intel’s CEO Says AI Is the Key to the Company’s Comeback

Intel CEO Pat Gelsinger has announced that the company's comeback plan is on track, with a rebrand of its "foundry" business and the promise of manufacturing chips as efficient and capable as those from competitors TSMC and Samsung. Microsoft is the first major customer for Intel's new chipmaking technology, a significant win in the age of AI. Gelsinger also discussed Intel's strategies to regain an edge, including advancements in transistor technology and improved power delivery. The company aims to become a leading foundry for all AI chipmakers. Gelsinger also mentioned the importance of workforce development in addressing the talent shortage in the US chip industry.

Intel doesn’t need a takeover, it needs a turnaround

Economic Times

Economic Times · 10m ago

Intel doesn’t need a takeover, it needs a turnaround

Reports of a potential takeover of Intel by Qualcomm have garnered attention, as Intel is currently facing a challenging period in its history. However, analysts believe the deal is unlikely to progress due to the difficulties related to payment and regulatory approval. Qualcomm's reported interest in buying Intel's chip-design arm but not the manufacturing business aligns with its focus on the mobile market, but the idea of a full takeover raises questions. Intel's CEO, Pat Gelsinger, should stay focused on the company's turnaround strategy, which includes cutbacks and spinning out its foundry business. Gelsinger's plan has received investor approval, and recent deals with Amazon and the U.S. government provide optimism for Intel's future. The national interest in rebuilding U.S. chipmaking capability is best served by allowing Intel to regain strength and not disrupting its progress with a takeover.

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