Intel has officially entered the grin and bear it phase of its recovery
Comment On Monday, Intel's share price surged on word it was spinning out its foundry biz as an independent subsidiary and signing AWS and the DoD as customers.
But while Wall Street celebrated, Chipzilla's road to recovery is far from over and everyone involved, whether they are shareholders, employees, or partners, are going to have to grin and bear it, either until CEO Pat Gelsinger can realize his vision or its board cuts his tenure short.
Some are already feeling this more than others. Along with the spinoff, Gelsinger announced sweeping changes to the organization's structure, consolidating its networking and automotive groups with its client division, and, perhaps more concerningly, pausing development of its German fab and Polish assembly sites for two years.
The announcement has cast doubt on the future of the facilities, not to mention the EU's goal to double its share of semiconductor development, manufacturing, and material supply chains from 10 to 20 percent by 2030.
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