Intel, a large semiconductor company, hired a shot after a semiconductor veteran lip. teao Be a new CEO. The news came out after three months, as Pat Gelsinger retired and retreated from the board of directors, and three months later, as Intel CFO David Zinsner and Vice President Michelle Johnston Holthaus entered the CEO.
tan, Most recently, I joined Intel at an interesting time in the history of Silicon Valley Company, CEO of Cadence Design Systems. Intel has seen the ups and downs for the past few years.
In February 2021, when Gelsinger dominated, Intel was already struggling and was far behind a colleague in a semiconductor race. At the time, the company would have lost the smartphone revolution in addition to mistakes regarding chip production.
It was also an interesting time for the semiconductor industry. The division acquired Xilink for $ 35 billion in the late 2020 and had a lot of integration in late 2020, including $ 21 billion in analog purchase MAXIM.
How was Gelsinger’s most recent Intel term? Let’s see it.
Gelsinger had the right to work when he started. He was called the company’s modernization plan, IDM or integrated device. The first part of the goal was to invest in two new chip manufacturing facilities in Arizona, and plans to promote the production of chips after the United States and later.
In 2022, the company announced the second part of the IDM plan, which has built a foundry service of Intel’s fab, a third -party global manufacturer, and company’s foundry. As part of the plan, the company announced that it will acquire Tower Semiconductor for $ 5.4 billion to build Intel’s custom foundry service.
But the transaction collapsed after facing regulatory obstacles. Canceled in the summer of 2023. At the time, TechCrunch reported that the merger, which was not merged, would have a serious impact on the company’s modernization plan. In September 2024, Intel took measures to convert Intel Foundry, the chip foundry business, into an independent subsidiary.
The time leading to Gelsinger’s retirement was especially confusing for Intel. The company’s share price plummeted about 50% from early 2024 to the departure of Zeselinggers. Intel announced plans to dismiss 15%of 15,000 people in August as a result of the second quarter. At that time, Gelsinger said that the company struggled to use the AI boom in the same way as rivals, and despite being behind, Intel had a grown head count.
Since Gelsinger’s departure, the company has delayed the opening of the Ohio Chip factory and decided not to bring the Falcon SHORES AI chip to the market.
But as tan If you take the initiative, the situation may begin to head in the right direction. Intel concluded a contract with the US Department of Commerce and finished the contract to receive $ 780 billion in subsidies for domestic semiconductor manufacturing through the US chip and science law. Intel has already received $ 2.2 billion of the subsidies, according to the fourth quarter. The company also won the ARC B580 graphics card when it was sold out after a positive initial review.
