Intel CEO Pat Gelsinger will step down at the end of December 2024, concluding a transformative yet challenging tenure. Gelsinger, who rejoined Intel in 2021 after leading VMware, brought a renewed focus on engineering and manufacturing excellence. His return was met with enthusiasm, as he sought to restore Intel’s dominance in the semiconductor industry amid intense competition from rivals like TSMC, AMD, and NVIDIA.
Under Gelsinger’s leadership, Intel pursued its “IDM 2.0” strategy, emphasizing in-house manufacturing, foundry services, and advanced node development. He spearheaded major investments, including $20 billion for Arizona factories and up to $100 billion for facilities in Ohio. These moves aligned with U.S. industrial policy goals, particularly the CHIPS Act, which allocated substantial funding to domestic semiconductor production. However, despite these efforts, Intel faced setbacks, including delays in advanced node deployment, declining PC chip sales, and missed opportunities in AI markets dominated by NVIDIA.
Gelsinger also reorganized Intel’s structure, forming new business units like the Data Center and AI Group to better align with industry demands. However, the company’s financial struggles, marked by declining revenue and layoffs, highlighted ongoing challenges. Even as Intel progressed in key areas, such as adopting EUV lithography and developing its 18A process technology (slated for 2025), it lagged behind its competitors in execution and market share.
His departure comes as Intel navigates a critical transition, focusing on AI, foundry services, and regaining its technological edge. Interim leadership will guide the company during this period, with Intel aiming to stabilize operations and compete more effectively in a rapidly evolving industry
Source: Intel
