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Intel's CEO shakeup puts foundry plans, CHIPS Act cash at risk

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Intel's CHIPS Act funding could disappear if the company ditches its plans to expand its manufacturing footprint.
The article from AOL Finance discusses a significant leadership change at Intel, where CEO Pat Gelsinger has initiated a major restructuring to focus on the company's foundry business. This shakeup includes the appointment of Stuart Pann as the new head of Intel Foundry Services (IFS), aiming to bolster Intel's competitiveness in the semiconductor manufacturing sector. The move comes as Intel seeks to regain its footing in the industry, particularly against rivals like TSMC and Samsung, by enhancing its foundry capabilities to produce chips not just for itself but also for other companies. This strategic pivot is part of a broader effort to address Intel's manufacturing delays and to capitalize on the growing demand for advanced semiconductor technology.

Read the Full AOL Article at:
[ https://www.aol.com/finance/intel-ceo-shakeup-puts-foundry-194227925.html ]