In a March 31 keynote in Las Vegas, the recently appointed CEO of Intel Corporation, Lip-Bu Tan, asked partners and customers to be brutally honest in their criticism of the company and its services. Tan noted the company’s slow adoption to meet customer needs, failing to meet consumer and stakeholder expectations. The Intel CEO further reiterated that the customers deserved better and the company would improve to deliver. 

Tan’s Vision Keynote was the first public presentation by the new Intel CEO since his appointment on March 18 and addressed over 700 partners and customers. Tan succeeded the former Intel CEO Pat Gelsinger, who abruptly exited the company at the beginning of December last year.

Intel executives Michelle Johnston Holthaus and David Zinsner took over as the interim co-CEOs before Tan’s appointment. Gelsinger’s retirement caused more speculations about Intel’s collapse, considering the former CEO’s 40-year career at the company. 

Intel Corporation’s struggles became more visible in 2024’s Q3 after the release of its Q2 earnings report, which indicated a 1% drop in the quarter’s revenue to $12.8 billion compared to 2023’s $12.9 billion. The company’s gross margin and operating margin also dropped significantly and increased speculations about Intel’s collapse.

An October Reuters report also forecasted more losses in 2024’s Q3 despite Gelsinger’s efforts to boost the company’s performance. 

The chipmaker’s share, INTC, dropped by the largest margin seen in around 40 years for the first time in August last year amid the Intel struggles. The INTC stock lost approximately 26% in a day at the beginning of August and lost over 50% by the end of last year. The stock still managed to recover this year by over 10% due to the new CEO’s appointment, restructuring efforts, and rumored collaborations with rival Nvidia. 

Intel Corporation’s Tan focuses on engineering and customer satisfaction

The keynote is the only part of #intelvision that is public “customers are the main focus….I will not be satisfied until I satisfy all of you” says new @intel CEO Lip-Bu Tan pic.twitter.com/R9TWze9IZM

— Carolina Milanesi (@caro_milanesi) March 31, 2025

Tan expressed his dedication to turning things around at Intel, addressing the company’s recent struggles. In his keynote, Tan promised that his main focus would be on customers, pledging to listen to feedback and put it into action. The Intel CEO further signaled his commitment to a more collaborative approach, ushering in a new era of partnership with the company’s customers. Tan insisted on humility and customer focus as fuel for Intel’s culture of “unity and collaboration.”

The chipmaker’s CEO also pointed out that the company would build on its engineering to deliver products that solved its customers’ needs. Tan stressed the need for Intel to embrace more software-driven product design, including the development of more purpose-built silicon. The Intel Corporation CEO added that artificial intelligence would be a key contributor to the development of purpose-built silicon to achieve specific outcomes and introduce full-stack solutions for consumers. 

Tan further promised to build a world-class Intel Foundry to meet the global demand for advanced semiconductor chips. The Intel Corporation CEO still reiterated the need for a secure, flexible, and resilient supply chain to ensure the success of its chip supply. Tan promised to work with the Intel Foundry team to analyze its current state, explore the opportunities, and develop better strategies for its success. 

The Intel Corporation CEO reassured consumers of his promises by revealing that the Intel 18A process technology is still on schedule. Tan further pointed out that the next-gen Panther Lake CPU is expected to launch in Q2 2025, as previously scheduled in 2024. 

Doubt spreads concerning Intel’s future

The recent restructuring plans under Tan have led to doubt among investors, especially after the recent Intel update that three Intel board members would not be standing for reelection in the 2025 Annual Meeting. The Board Frank Yeary thanked the retiring board members, Omar Ishrak, Risa Lavisso-Mourey, and Tsu-Jae King Liu, for their contribution to the Intel board.

Yeary further commented on the appointment of ASML’s former CEO, Eric Meurice, and Microchip’s Chairman, Steve Sanghi, to the Intel board in 2024. 

A February Wall Street Journal report also highlighted a possible sale of the company, citing rumored bids by the Taiwanese semiconductor giant TMSC and Broadcom. The report stated the companies’ plans to possibly split some of Intel’s operations, including the Foundry operations and the design and marketing divisions. TMSC was also rumored to purchase 20% of the Intel Foundry in February despite a lack of confirmation from both companies. 

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