Intel, the sole US company producing advanced semiconductors, faces challenges in the AI chip market and has seen a drop in its shares. CEO Tan, appointed after a leadership change, warned of abandoning next-generation technology development without securing significant external customers, which would favor rival TSMC. Additionally, concerns have been raised about Tan's associations and whether Intel can responsibly use government subsidies and comply with security regulations, as highlighted in a letter addressed to the board chair.
Intel is the only US-headquartered company capable of producing advanced semiconductors, though it has so far largely missed out on the current boom for artificial intelligence chips.
Tan warned last month that Intel might be forced to abandon development of its next-generation manufacturing technology if it were unable to secure a "significant external customer."
Intel's board chair received a letter stating that Mr Tan's associations raise questions about Intel's ability to fulfill obligations related to American taxpayer dollars.
Intel shares dropped 3 percent in pre-market trading in New York.
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