Intel CEO Pat Gelsinger on how the company is looking to regain top chipmaker spot: “We want to build...”

How Intel wants to boost its fortunes

Intel has a plan to regain its leadership in the chipmaking space. At Computex 2024, the US-based company announced its Lunar Lake, AI accelerator processors and Intel’s Xeon 6 chips. Speaking on these lines, company CEO Pat Gelsinger has said that Intel wants to build “everybody’s AI chips .“We want to build everybody’s chips, everybody’s AI chips. We want them to be built leveraging the U.S. factories,” Gelsinger told CNBC.Intel has been overtaken by rivals TSMC and Samsung in recent years, and at the same time, is facing tough competition from Qualcomm, Nvidia and AMD.Intel was the world’s largest chipmaker but in 2017, Samsung Electronics surpassed it in revenue. TSMC, which makes chips for Apple, reportedly leapfrogged Samsung in 2023 to become the world’s largest foundry by revenue.“The first piece is to get back to leadership, because a lot of the losses are associated with having uncompetitive process technology,” said Gelsinger.Intel posted an operating loss of $7 billion in 2023 as it looks to boost its struggling foundry business. It is currently not in the top six foundries by revenue, a Counterpoint Research report said last month.Intel recently got $8.5 billion in CHIPS and Science Act funding from the Biden administration and may potentially get another $11 billion. The capital is likely to help Intel advance its semiconductor manufacturing, research and development.“The capital is critical. And what we said is that we have to have economic competitiveness if we’re going to build these factories in the US and that’s what the chips Act has done. It’s created a level playing field if I were building a factory in Asia versus US,” Gelsinger said.