Intel CEO Gelsinger Affirms: Intel’s Chief Executive, Pat Gelsinger, clarified on Thursday that the tech giant currently has no intentions of spinning out its contract chip manufacturing business. Gelsinger emphasized that the company is committed to the internal foundry model, with its manufacturing unit now operating as Intel Foundry Services (IFS) within the company’s framework.
The decision to keep IFS within Intel reflects Gelsinger’s strategic vision, maintaining an integrated approach where chip design and manufacturing coexist as distinct yet collaborative entities. While Intel has previously pursued spin-offs, such as with its Mobileye autonomous driving business, Gelsinger indicated that, for now, the internal foundry model aligns with Intel’s goals in the current business landscape.
Intel plans to disclose the financials of IFS as a separate business unit starting in the second quarter of the upcoming year. Despite potential advantages in the future, Gelsinger highlighted the benefits of the integrated approach, ensuring Intel’s role as a reliable and “clean supplier” of manufacturing capacity for IFS customers.
Also Read: Intel Gelsinger: No Plans for Chip Unit Spinoff, Betting on Internal Foundry Model
The CEO discussed these strategic moves at an event in New York, focusing on PC chips equipped with artificial intelligence features. Gelsinger also addressed the increasing importance of local processing for AI applications, emphasizing that running such workloads on remote data centers is economically impractical.
He pointed out that major players like Microsoft would need a significant reduction in data flow between data centers and PCs to make cloud-based AI applications economically viable. This insight into the future of AI processing underscores Intel’s commitment to innovation and adapting to the evolving needs of the technology landscape.
Our Reader’s Queries
Did Intel CEO buy more stock?
It’s great news to hear that Intel CEO Pat Gelsinger has shown confidence in the company by purchasing INTC stock multiple times. Gelsinger, through trusts under his control, bought 8,200 shares in May, 7,100 shares in August, and 6,775 shares over Oct. 31 and Nov. 1. This move indicates his belief in the company’s future growth and success.
What did Pat Gelsinger invent?
With his expertise, he spearheaded the development of groundbreaking technologies such as USB and Wi-Fi. He was the mastermind behind the original 80486 processor and successfully led 14 microprocessor programs. His contributions to the Intel® Core and Intel® Xeon® processor families were instrumental in making Intel the leading supplier of microprocessors worldwide.
Who was the best CEO for Intel?
As the CEO of the company for over eight years, Gelsinger achieved an impressive feat of tripling the revenue. His exceptional leadership skills earned him the title of the top CEO in America for 2019 by Glassdoor. Finally, in 2021, Gelsinger received the call he had been eagerly anticipating throughout his career.
Who is Pat Gelsinger wife?
Pat Gelsinger, a board member of the Intel Semiconductor Industry Association (SIA), succeeded Bob Swan as the CEO of Intel. He is married to Linda Fortune and has children.