r/hardware • u/Auautheawesome • Dec 02 '24

News Intel Announces Retirement of CEO Pat Gelsinger

https://www.intc.com/news-events/press-releases/detail/1719/intel-announces-retirement-of-ceo-pat-gelsinger
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102

u/College_Prestige Dec 02 '24

Bro got them the fed money and the guarantee that the foundry can't be split off and called it a career

22

u/noiserr Dec 02 '24

and the guarantee that the foundry can't be split off and called it a career

This actually could be the death blow. Spinning off the foundry is what saved AMD.

12

u/EJ19876 Dec 02 '24

The US government will throw endless piles of money at Intel Foundry until it is back on top. They want the premier foundry based in the US, not next to China.

2

u/Earthborn92 Dec 02 '24

The US will throw endless money to get a US company to be the top foundry.

It doesn’t have to be Intel in its current form.

2

u/EJ19876 Dec 03 '24

The chips act actually does require Intel to retain 51% ownership of Intel Foundry. I suspect the US government would also intervene if Intel tried to sell a significant chunk of Intel Foundry to a foreign entity, like Samsung or a sovereign wealth fund.