Intel's bold bet: Can Chen Fuyang reverse the decline of this semiconductor giant?

Under CEO Lip-Bu Tan, Intel is undergoing a major restructuring, planning to lay off 35% of its employees in 2025, and refocus on artificial intelligence and foundry manufacturing. Despite a loss of $2.9 billion in the second quarter, AI revenue rose 4% year-on-year. The company aims at cost-sensitive markets with Gaudi chips and plans to become the world's second largest foundry by 2030, supported by a US government investment of $5.7 billion.