Intel ‘Has Its Best Days In Front Of Us’
While Pat Gelsinger won’t become Intel’s CEO until mid-February, he came out swinging in the company’s Thursday earnings call and promised a return to greatness for the chipmaker.
“Great companies are able to come back from periods of difficulty and challenge and then come back stronger, better and more capable than ever,” he said in his first public remarks as Intel’s incoming leader. “And that I believe is the opportunity at Intel, and I’m confident that this company has its best days in front of us, and I am looking forward to the opportunity to be part of that.”
While Intel delivered strong results for the fourth quarter and exceeded Wall Street’s expectations for earnings and revenue, the chipmaker has fallen behind in what has historically been a core strength, process manufacturing, which had been a chief factor in helping Intel make smaller, more efficient chips. The company’s struggles with manufacturing has resulted in delays for both 10-nanometer and 7nm products over the last few years, allowing chip foundries TSMC and Samsung to arm fabless chipmakers like AMD and Nvidia with next-generation processes sooner.
Among his remarks to investors Thursday night, Gelsinger, who is ending a nearly nine-year tenure as VMware’s CEO to return to Intel, vowed that he will lead the chipmaker to not only close the gap with TSMC and Samsung; he will push Intel to become the leader in chip manufacturing once again.
That, combined with investments in other aspects of chip development, including packaging technologies, will allow the company to deliver the “best products for our customers in every category that we participate in,” according to Gelsinger.
What follows are eight bold statements Gelsinger, a 30-year Intel veteran, made in his first public remarks as Intel’s incoming CEO.