- Intel CEO Lip-Bu Tan discusses the company’s future at its vision conference
- Spinning non-core assets and adding more engineers is a priority
- Tan will listen to customers but “it won’t happen overnight”
Intel’s new CEO and successor of Pat Gelsinger, Lip-Bu Tan, has announced plans to spin non-core units to tackle the company’s recent matches.
Tan emphasized that there would be no quick solution, adding that his first week as a CEO meeting with customers revealed that Intel had come under their expectations.
“Be brutally honest with us,” he said at Chipmaker’s vision -event in Las Vegas.
LIP-BU TAN ACCESSING LONG TEXT plans for Intel
Tan also revealed how Intel could become slimmer, with more direct involvement from engineers after it lost its once dominant market position to rivals such as NVIDIA and AMD.
On the AI chip front, the company is seriously behind Nvidia, which has spent some time as the world’s most valuable business with a market capital of more than $ 3 trillion.
“We lost a lot of talent,” Tan said as he discussed plans to recruit more engineers and give them “freedom to innovate from the inside” (via Pakinomist).
CEO also wants to be more responsive to customer needs – to create custom semiconductors tailored to client specifications will be such a way.
At the event, Tan also indicated plans to spin Intel’s non-core assets to focus on key operational strategies-there are no current plans to divide Intel’s product and manufacturing units.
The Intel share rose in the days between the message and Tan’s appointment, but has gradually faded again. Shares also fell 1.2%after making these comments at this week’s vision conference, which spelled further uncertainty and a potential decrease in confidence.
“It won’t happen overnight, but I know we can get there,” he added.
