According to the letter that is available over at Intel's website, the Intel Foundry will focus on Intel 18A, continue on its plan to implement a cost structure to deliver the $10B in savings, and refocus on x86 product portfolio. Intel also released several news announcements that follows this plan, including its strategic collaboration with Amazon Web Services (AWS), a $3B award under the U.S. CHIPS and Science Act, greater independence and higher efficiency for Intel Foundry, and stronger focus on x86 and AI market.
Intel has announced an expanded strategic collaboration with Amazon Web Services (AWS), with a co-investment in custom chip designs and a multi-year, multi-billion-dollar deal covering both products and wafers from Intel. The deal includes an AI fabric chip for AWS on Intel 18A, as well as custom Xeon 6 chip on Intel 3 for AWS, as well as additional designs on Intel 18A, Intel 18AP, and Intel 14A. In addition, Intel also got awarded up to $3B in direct funding under the CHIPS and Science Act for the U.S. government’s Secure Enclave program. Despite these announcements, Wall Street bean counters remain unimpressed and quite skeptical.
Pat also talked about the company's determination to bring cost down with a $10B savings plan announced last month. Intel plans to keep focused on x86, strengthening and streamlining the Intel Products portfolio for client, edge, and data center markets, as well as continue to focus on leadership in AI PC category.
"All eyes will remain on us. We need to fight for every inch and execute better than ever before. Because that’s the only way to quiet our critics and deliver the results we know we’re capable of achieving. We must maintain our focus on innovation while also becoming an engine of operational efficiency and financial performance that’s built to win in the market. As I’ve said before, this is the most significant transformation of Intel in over four decades. Not since the memory-to-microprocessor transition have we attempted something so essential. We succeeded then—and we will meet this moment and build a stronger Intel for decades to come. On behalf of the entire ELT and our Board of Directors, thank you for all you’re doing. I greatly appreciate your patience, grit, and resilience as we do the hard work needed to deliver on our plan and position our company for the future", said Pat at the end of the official letter.
You can check out the full letter over at Intel's website.
