Shares of Intel surged over 8% following news of Lip-Bu Tan's imminent leadership as CEO, indicating investor optimism for a turnaround. Tan plans to drastically restructure the company, especially its approach to AI, and revive its manufacturing processes. He has pointed out that tough decisions will be necessary, particularly regarding the bloated management structure which his predecessor, Pat Gelsinger, was criticized for maintaining. Despite possible plans for dividing Intel's business, Tan advocates for keeping the company whole, with ambitions to innovate AI chip designs and expand into new technological fields.
Incoming CEO Lip-Bu Tan plans to restructure Intel, focusing on AI, reviving manufacturing, and reducing management layers after the company's significant losses and market share decline.
Tan aims to make 'tough decisions' as he transitions into the CEO role amid Intel's struggles in the semiconductor industry, particularly in AI and data centers.
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