The Silicon Valley-based company could scale back its semiconductor manufacturing business in a blow to American ambitions
The abrupt departure of Intel’s chief executive removes the biggest obstacle to a radical reshaping of the iconic Silicon Valley company, including scaling back its chip manufacturing business in spite of multibillion-dollar incentives from the US government.
Rival AMD went through a protracted process when it divested its manufacturing business in 2008. Intel has a narrow window to pivot to contracting rival foundry TSMC to produce its PC and data centre chips that are planned to go into production in 2026. The company is due to cash its first cheque from the US government within weeks. However, doing so would make it harder to get out of the chip manufacturing business due to provisions in its Chips Act contracts.
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