Intel’s interim co-CEO David Zinsner has stated that the company’s next CEO will have both foundry and product experience. Zinsner made this comment at a UBS technology conference, adding that Intel’s core strategy remains intact despite recent challenges. The new CEO is expected to address the company’s struggles in its manufacturing business.
Intel’s shares have fallen over 55% this year due to missing out on the artificial intelligence boom and trailing behind industry heavyweight Nvidia. However, interim head of foundry manufacturing and supply chain Naga Chandrasekaran reported that progress on the 18A advanced node manufacturing process is on track. Samples of chips made with the new node will be provided to customers in the first half of next year.
Zinsner also mentioned that Intel’s foundry business will see improved margins by next year, mainly driven by its Lunar Lake processors. The company has invested heavily in its manufacturing business to regain its lead in making fast and small computer chips.
Source: https://www.reuters.com/technology/intels-interim-co-ceo-zinsner-says-new-chief-executive-will-have-foundry-2024-12-04