Once a Silicon Valley leader, Intel has been a staple of the computer chip-making business for decades. In the last several years, it has fallen from grace, failing to jump on the AI train in time. A series of missed opportunities over the years has contributed to its current financial challenges.
Intel has been trying to correct its course for years. In 2021, it brought back CEO Pat Gelsinger, a former VMware CEO and a longtime Intel executive, to revive its leadership status in the chips industry. It has recently benefited from CHIPS and Science Act funding to create more microchip manufacturing capabilities in Arizona.
While Intel has built Ohio factories, major chip designers have not publicly signed up. They just dropped the ball there, and until now, they're trying to build the foundry business, but they haven't even proven that they can make stuff for themselves.
The merger could be the biggest in the chips industry but may not solve Intel's core problems as its manufacturing operations and market position remain uncertain amid fierce competition.
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