In the recent board meeting, Intel CEO Pat Gelsinger reported on the company’s initiatives to improve operational efficiency and competitiveness in the market. One key highlight was the restructuring of Intel Foundry business unit to enhance customer confidence and independence. Intel plans to establish the subsidiary within Intel to facilitate external funding opportunities in the future. Previously, Intel had separated the Intel Foundry business in its financial reports.
Moving forward, Intel Foundry’s expansion plans will focus on European facilities in Ireland, while projects in Poland and Germany are delayed by at least two years. In Asia, Malaysia is progressing with a new packaging facility, and in the Americas, all expansion plans remain on track.
Additional points in Pat Gelsinger’s report include:
– Collaborating with AWS to produce Xeon 6 Custom chips using Intel 18A manufacturing technology.
– Securing $3 billion funding under the CHIPS Act from the US government for producing Secure Enclave chips.
– Partial sale of Altera shares and taking IPO company to the stock market.
– Expected completion of employee layoffs totaling around 15,000 by the end of this year.
TLDR: Intel CEO Pat Gelsinger unveils strategic moves to optimize Intel’s operations and competitiveness, including Intel Foundry’s restructuring, expansion plans, collaborations with AWS, securing government funding, and employee layoffs.
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