Intel CEO Resigns, Foundry Struggles
This is a US news story, published by Yahoo Finance, that relates primarily to Pat Gelsinger news.
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•Intel’s CEO shakeup puts foundry plans, CHIPS Act cash at risk
77% Informative
Intel forced out CEO Pat Gelsinger on Monday , its stock price is down more than 50% on the year .
The chipmaker received $7.8 billion in CHIPS Act funding to expand its foundry business.
Intel has to make a decision: carry on with the plan or cut back and focus on its own chip building capabilities.
Citi head of US semiconductor research Chris Danely says Intel should scrap its goal of serving as a global foundry for other companies.
Danely believes Intel should continue to build its own chips.
Before that, however, Intel needs to find a new permanent CEO.
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