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3w ago

Intel CEO Lip-Bu Tan Announces Plans to Spin Off Non-Core Businesses in Turnaround Effort

In his first public remarks, Tan emphasizes cultural transformation, customer feedback, and engineering excellence to restore Intel's competitiveness.

Lip-Bu Tan making his first keynote address
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Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
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Overview

  • Lip-Bu Tan, Intel's new CEO, aims to revitalize the company by spinning off non-core businesses and focusing on core operations like chip design and manufacturing.
  • Tan has pledged to rebuild Intel's engineering talent, citing significant losses in recent years, and to foster a more innovative, startup-like culture.
  • The CEO is prioritizing a customer-centric approach, reversing Intel's traditional product development process to better align with customer needs.
  • Tan acknowledged Intel's shortcomings in AI and data center chips and committed to improving these areas to compete with industry leaders like Nvidia and AMD.
  • Intel's foundry business will remain a key focus, with plans to secure major customers and improve manufacturing processes to regain market trust.