Provided by Dow Jones
By Asa Fitch Intel Corp. s incoming Chief Executive Pat Gelsinger said the semiconductor giant would outsource more chip production as it posted pandemic-fueled full-year results that also underscore the breadth of challenges the new CEO will face. Mr. Gelsinger on Thursday said Intel would have other chip companies make more of its products, even if the bulk of its new chips in coming few years would be made in house. The shift marks a break from Intel s traditional reliance on its own factories to make its most-advanced chips effectively an acknowledgment that it has fallen behind chip-making rivals.
Provided by Dow Jones
By Asa Fitch Intel Corp. s incoming Chief Executive Pat Gelsinger said the semiconductor giant would outsource more chip production, as it posted pandemic-fueled full-year results that also underscored the breadth of challenges the new CEO will face. Mr. Gelsinger on Thursday said Intel would have other chip companies make more of its products, even if the bulk of its new chips in the coming few years would be made in house. The shift marks a break from Intel s traditional reliance on its own factories to make its most-advanced chips effectively an acknowledgment that it has fallen behind chip-making rivals.
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Activist hedge fund manager Daniel Loeb takes on Intel, plans launch of new VC fund
Third Point, the activist hedge fund run by Daniel Loeb, is busy in the waning days of 2020. It’s had great returns despite huge turbulence early in the pandemic Reuters says that it is up 12.3% for the year as of earlier this month and the firm clearly sees more and more potential for growth in the tech sector.
First, we learned via Asa Fitch at the Wall Street Journal yesterday that the hedge fund sent a vituperative shareholder letter to Intel chair Omar Ishrak, demanding wide-scale changes in its management after the American chipmaker fell dramatically behind rivals in recent years. As I noted in TechCrunch’s 2020 wrapup of the semiconductor industry, Intel has a make-or-break moment coming next year, and now with even further activist pressure from hedge funds, the push to fix Intel’s underlying problems is intensifying.
Intel Not Inside: How Mobile Chips Overtook the Semiconductor Giant [Bangkok Post, Thailand]
Dec. 14 Intel Corp., once the dominant designer and manufacturer of microchips at the core of nearly all personal and cloud computing, has for years been losing ground to competitors.
Hardly a ragtag bunch, the opposition now includes trillion-dollar companies alongside countless startups, and it’s well on its way to wrecking Intel’s hegemony.
Apple Inc. recently declared an end to its use of Intel chips in Macs, which it adopted in 2006, and a switch to processors of its own design.
With less fanfare, longtime Intel partner Microsoft Corp. put a custom chip in its Surface Pro X tablet PC, as an alternative to models running Intel’s chips.