From The Register, September 22:
Gelsinger sold the world on his foundry vision. Walking away won't be easy
Comment On Monday, Intel's share price surged on word it was spinning out its foundry biz as an independent subsidiary and signing AWS and the DoD as customers.
But while Wall Street celebrated, Chipzilla's road to recovery is far from over and everyone involved, whether they are shareholders, employees, or partners, are going to have to grin and bear it, either until CEO Pat Gelsinger can realize his vision or its board cuts his tenure short.
Some are already feeling this more than others. Along with the spinoff, Gelsinger announced sweeping changes to the organization's structure, consolidating its networking and automotive groups with its client division, and, perhaps more concerningly, pausing development of its German fab and Polish assembly sites for two years.
The announcement has cast doubt on the future of the facilities, not to mention the EU's goal to double its share of semiconductor development, manufacturing, and material supply chains from 10 to 20 percent by 2030.
EU member nations have already put up €43 billion ($48 billion) in subsidies to support this goal. Intel was originally slated to receive roughly €12 billion ($13.4 billion) in state aid between its German and Polish developments. It seems unlikely that aid will ever materialize and, without it, Intel's two-year delay may end up being permanent....
....MUCH MORE
The Register published the above a few hours before Apollo started talking about a $5 billion "equity-like" investment in INTC. Intel is still a long way from getting into the 2020's, chips-wise. The stock is up six-bits as people used to say, +0.75 (3.41%) at $22.59.
