The new head of Intel announced a change in strategy and investments of $20 billion

The new CEO of Intel Pat Gelsinger radically changes the policy of the corporation, writes WSJ. Along with the development of outsourcing and the production of custom chips, Intel under his leadership will invest $ 20 billion in the construction of new factories to help with the shortage of chips in the world.

Gelsinger, who took office in mid-February, announced that from 2023 the company intends to transfer part of the production of its own chips to third-party partners. Among them are Taiwanese giant TSMC and South Korean Samsung.

Even before his appointment as chief executive, Gelsinger hinted at a new path for the company, meaning that Intel would rely more on outsourcing. Nevertheless, Intel will remain committed to tradition in the sense that it will continue to develop and manufacture complex chips, the WSJ notes .

Based on these ambitious goals, the processor giant is investing $20 billion in two giant chip factories in Arizona. During the year, top managers will refine plans to expand their presence in the US, Europe and other regions. On this news, Intel shares soared more than 6% in the postmarket, the publication draws attention.

• Intel will also unite separate enterprises in the US and Europe into a single division of Intel Foundry Services (IFS), where it will make chips for itself and to order, including on third-party architecture.
• The company has previously promoted the idea of ​​​​creating chips for others, but could not succeed in this, writes WSJ. Over the past year, Intel has noticeably reduced its market share due to the loss of key customers (including Apple and part of Microsoft) and has experienced problems with the transition to new technologies.
• Gelsinger's policy directly contradicts the proposal of the famous "serial minority shareholder" Daniel Loeb, whose fund has about $1 billion in investments in Intel. He wanted the company to get rid of industrial production.

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