The giant semiconductor intel hired Semiconductor veteran lip-dro tan to Be his new CEO. This news comes three months after Pat Gelsinger retired and left the company’s board of directors, with the financial director of Intel David Zinsner and the executive vice-president of customer relations Michelle Johnston Holthaus intervening as co-ceos.
Tanned, Who was more recently the CEO of Cadence Design Systems, joined Intel – and joins the Board of Directors – at an interesting moment in the history of Silicon Valley Company. Intel has seen its fair share of ups and downs in recent years – to say it slightly.
When Gelsinger took the bar in February 2021, Intel already had difficulty and took away from his peers in the semiconductor race. At the time, society was probably still in shock from the smartphones revolution in addition to the faux pas in the production of fleas.
It was also an interesting period for the semiconductor industry as a whole. The sector had experienced a large part of recent consolidation at the end of 2020, notably AMD acquiring Xilink for $ 35 billion and analog purchase maxim for $ 21 billion, among others.
So how was Gelsinger’s most recent mandate at Intel? Let’s take a look.
Gelsinger started working when he started. He announced a modernization plan for the company, Nicknamedor manufacture of the integrated device. The first part of the objective was an investment of $ 20 billion to build two new flea manufacturing facilities in Arizona, with plans to stimulate the production of fleas in the United States and beyond.
In 2022, the company announced the second part of this IDM plan, which involved a three -stea approach to flea manufacturing: Intel Fabs, third -party world manufacturers and creation of the company’s foundry services. As part of this plan, the company announced that it acquired Tower Semiconductor for $ 5.4 billion to help build Personalized Intel Foundry Services.
However, this agreement failed after facing regulatory obstacles. It was canceled in the summer of 2023. At the time, Techcrunch reported that the merger that did not come would have a serious impact on the modernization of the company. In September 2024, Intel took measures to transition from its Chip Foundry division, Intel Foundry, to an independent subsidiary.
The time leading to Gelsinger was particularly tumultuous for Intel. The company’s share price dropped by around 50% from the beginning of 2024 from Gelsinger in December. Intel announced its intention to dismiss 15% of its workforce, around 15,000 people, in August after the global results of the second quarter. At that time, Gelsinger said that the company had trouble capitalizing on the Boom of AI in the same way that its rivals had been, and that in spite of late, Intel had invaded the workforce.
Since the departure of Gelsinger, the company has delayed the opening of its Ohio Chip Factory – again – and has decided not to market its Ait Falcon Shores chips.
But as Tanned Take the lead, things can start to go in the right direction. Intel has concluded an agreement with the US trade ministry to receive a subsidy of $ 7.865 billion for the national manufacture of semiconductors through the American law on flea and sciences; Intel has already received $ 2.2 billion from this subsidy, according to its call for results in the fourth quarter. The company was also able to win a victory with regard to the popularity of its Arc B580 graphics card, which sold after Early positive opinion.
