A message from Intel CEO Pat Gelsinger to employees regarding the next phase of Intel's transformation

Intel CEO Pat Gelsinger : "We have a lot of work ahead to drive greater efficiency, improve our profitability and enhance our market competitiveness" "We must continue acting with urgency to create a more competitive cost structure and deliver the $ 10B in savings target we announced last month ," he says.

Intel has been awarded up to $3B in direct funding under the CHIPS and Science Act.

We are also taking actions to strengthen and streamline our Intel Products portfolio.

Our top priority is to maximize the value of our x86 franchise across client, edge and data center markets, including with a broader range of custom chiplets and other customized offerings that meet emerging customer needs.

We are more than halfway to our workforce reduction target of approximately 15,000 by the end of the year .

Intel may include statements regarding the framework with AWS , our internal foundry model and planned additional independence for Intel Foundry , our Smart Capital strategy, updated reporting structure, and AI strategy.

Such statements involve many risks and uncertainties that could cause our actual results to differ from those expressed or implied, including those associated with the high level of competition and rapid technological change in our industry.