Pat Gelsinger, CEO of Intel (INTC), suddenly resigned from his position as CEO at the chipmaker this weekend. Gelsinger started working at Intel in the 1980s as a chief architect and served as the company's Chief Technology Officer from 2001 to 2009, before leaving to lead VMware and returning to Intel later in 2021.
Intel's CFO David Zinser and Intel Products CEO Michelle Johnston Holthaus have been named interim co-CEOs while the tech company searches for a replacement. Despite Intel consistently being a laggard in the AI chip landscape, Gelsinger was in the middle of executing his turnaround plan before abruptly leaving.
“I would say he was flawless in terms of who he lost and then who he brought in. And now that he's gone, I think he's done a lot to get their production back up to competitor levels, which is essentially Taiwan Semi (TSM),” U.S. semiconductor research chief Christopher Danely tells Julie Hyman and Josh Lipton on market dominance.
“And as it stands now, if they continue to get their results a year from now, they will be in a draw. The problem is this emphasis on the foundry sector,” Danely continues. 'We think there is very little chance that it will ever work for Intel. Most people we talk to in the semi industry know that, realize that Intel has been at it for a long time. I think they should leave the foundry.”
Danely goes on to comment on the demand for Intel's chip production as the company tries to scale up its capacity.
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This post was written by Luke Carberry Mogan.
