Intel's CEO Says AI Is the Key to the Company's Comeback

When veteran engineer and executive Pat Gelsinger returned to Intel as CEO in 2021, the once-great chipmaker was in a slump. After failing to adapt to the mobile era and then missing several steps in cutting-edge microprocessor manufacturing, it was now also falling behind in supplying chips to feed the tech industry's growing hunger for artificial intelligence. With optimism that at times seemed reckless, Gelsinger promised that Intel would make an epic comeback. He vowed to shake up its sleepy corporate culture, refocus on core engineering, and deliver a revitalized manufacturing plan that would put rivals TSMC and Samsung on notice. This week, Gelsinger declared Intel's comeback plan well and truly on track. He announced a rebrand of the company's "foundry" business, which manufactures chips designed by other companies, saying that Intel's latest manufacturing process would later this year yield silicon chips as efficient and capable as ones from TSMC.