The News
Lip-Bu Tan took over as Intel’s new CEO on Tuesday, under immense pressure to turn around the struggling semiconductor giant.
The US company has been set back in recent years by its failure to innovate and keep up with the rapidly changing artificial intelligence chip ecosystem — now dominated by Nvidia.
Intel shares have soared since Tan was announced as the new CEO, in what one analyst desscribed as a “show me” moment for the company.
Tan is considering major changes to Intel’s AI approach, including cutting middle management staff and revamping its chip manufacturing, Reuters reported; he told employees “tough decisions” were on the horizon.
Analysts have also speculated that Tan could even split up the company, separating its chip factory business from its chip-designing arm.