Intel's new CEO vows to run chipmaker like a 'day one startup'

On Monday, chip giant Intel's new CEO, Lip-Bu Tan -- who took over from outgoing CEO Pat Gelsinger only 15 days earlier -- laid out in broad terms his strategy to return the company to greatness. Speaking at Intel Vision, the company's annual event for customers and partners in Las Vegas, Tan emphasized changing Intel's culture, promising to run the company "as a startup, on day one." Tan said the culture needs changing because Intel has lost much of its engineering focus over the years. "Intel has lost some of this talent over the years," he said. "I want to re-group the talent and attract some of the new talent. Also: Intel touts new Xeon chip's AI power in bid to fend off AMD, ARM advances Recalling his affection for basketball and California's Golden State Warriors, Tan remarked, "I love the game, how they pass the ball to the teammate to receive it -- this is the kind of team I would like to build." All of the culture remake, he said, is necessary to "Pull together strong teams to correct the past mistakes and start to earn your trust." Tan put Intel's problems front and center. Without enumerating the mistakes in detail, it's well-known to investors and to the industry at large that Intel has lost an enormous amount of market share to AMD over the years and has ceded the artificial intelligence battle to Nvidia. "It has been a tough period for quite a long time for Intel," observed Tan. "It was very hard for me to watch its struggle; I simply cannot stay on the sideline knowing that I could help turn things around." Addressing the customers in the room, Tan remarked, "You deserve better, and we need to improve -- and we will." He asked the audience to "please be brutally honest with us.