New Intel CEO says company will spin off non-Core units, tells customers to "be brutally honest with us"

Date:
Tue, 01 Apr 2025 13:04:00 +0000

Description:
Lip-Bu Tan reveals plans to point Intel back in the right direction,
including spinning off non-core assets.

FULL STORY ======================================================================Intel CEO Lip-Bu Tan discusses the companys future at its Vision conference
Spinning off non-core assets and adding more engineers are a priority Tan wants to listen to customers, but it wont happen overnight

Intel's new CEO and successor to Pat Gelsinger, Lip-Bu Tan , has announced plans to spin off non-core units to address the companys recent struggles.

Tan emphasized there would be no quick fix, adding that his first week as CEO meeting with customers uncovered that Intel had fallen short of their expectations.

Please be brutally honest with us, he said at the chipmakers Vision event in Las Vegas. Lip-Bu Tan announces long-term plans for Intel

Tan also revealed how Intel could become leaner, with more direct involvement from engineers after it lost its once dominant market position to rivals like Nvidia and AMD.

On the AI chip front, the company severely lags behind Nvidia, which has
spent some time as the worlds most valuable company with a market cap of more than $3 trillion.

We lost quite a bit of talent, Tan said as he discussed plans to recruit more engineers and give them the freedom to innovate from within (via Reuters ).

The CEO also wants to be more responsive to customer needs creating custom semiconductors tailored to client specifications will be one such way.

At the event, Tan also indicated plans to spin off Intels non-core assets to focus on core operational strategies there are no current plans to split Intels product and manufacturing units.

Intel stock rose in the days between the announcement and Tans appointment
but has gradually faded again. Shares also fell 1.2% after he made these remarks at this weeks Vision conference, spelling out further uncertainty and a potential drop in confidence.

It won't happen overnight, but I know we can get there, he added. You might also like Fancy an upgrade? Weve listed the best mobile workstations around What an irony! AMD could potentially block Intel deal by invoking agreement put in place to prevent its own sale Check out the best business laptops out today



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Link to news story: https://www.techradar.com/pro/new-intel-ceo-says-company-will-spin-off-non-cor e-units-tells-customers-to-be-brutally-honest-with-us


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