In a X post, Anwar said he held discussions with Intel CEO Lip-Bu Tan about strengthening Malaysia’s position as a high-quality investment destination, with Tan expressing confidence in the country’s long-term plans.

The chipmaker is putting the final touches on a MYR12 billion advanced packaging factory in Penang.

Malaysia’s semiconductor sector is attracting increased foreign investment, supported by government incentives, as it moves beyond traditional assembly and testing into advanced packaging and chip design.

The country accounts for about 10 per cent of global chip packaging, Bloomberg reported. In addition to Intel, GlobalFoundries and Infineon have major packaging facilities in the country.

Intel’s fortunes have turned around since Nvidia committed to investing $5 billion to acquire a 10 per cent equity stake while the US government paid $8.9 billion for about 10 per cent interest.

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According to Reuters, the US chipmaker stated it employs strict measures to prevent the transfer of restricted information and IP, explaining there is no indication those procedures were breached when former TSMC executive Lo Wei-jen took up a position in October.

TSMC believes Lo revealed details of its work on a 2nm production process.

In company documents, it explained the set-up “will be the most advanced technology in the semiconductor industry in terms of both density and energy efficiency when introduced”.

The 2nm process “features first-generation nanosheet transistor technology, with full-node strides in performance and power consumption”.

Lo retired from his role as SVP for corporate strategy development at TSMC in July before taking up the now controversial role with Intel.

The US company told Reuters the movement of skilled personnel is commonplace in the chip sector and said nothing pointed to TSMC’s allegations being true.

TSMC is reportedly suing Lo over the matter and he is subject to a probe by Taiwanese prosecutors.

Protecting its forthcoming 2nm process has become a serious business for TSMC, which in August reportedly sacked staff for trying to access pertinent details.

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Intel CEO Lip-Bu Tan (pictured, left) and Nvidia CEO Jensen Huang (pictured, right) stressed on the call yesterday (18 August) the partnership is firmly focused on the products the two companies will jointly develop.

Analyst Jack Gold noted both companies use TSMC’s fabrication facilities and Intel will need to prove out its 14A process before Nvidia considers using it.

“I think we would both say that TSMC is a world-class foundry,” Huang said. “I just can’t overstate the magic that is TSMC.”

Products
Intel gained access to Nvidia’s NVLink technology to build future superchips together. Nvidia’s proprietary NVLink interconnect is used to connect CPUs and GPUs for the chips.

The companies will also partner on building a new consumer-grade PC chip that fuses GPUs and CPUs.

Huang noted Nvidia gains wide access to a PC market which sells 150 million notebooks a year while pegging the data centre revenue opportunity at $25 billion to $50 billion.

Gold stated in a research note Intel controls 75 per cent to 85 per cent of the AI PC market and said Nvidia has a better chance of being a player in that space through Intel.

Huang and Tan didn’t say when the joint products will be available.

AMD
AMD competes against Intel for supplying chips to data centres and PCs. Gold noted the partnership could have an impact on AMD “although they are doing well with their own AI efforts in GPU and CPU”.

“Still, having two major competitors combining their efforts is not exactly a positive outcome for AMD,” he explained. “And with a slew of startup contenders for AI market share, the collaboration of these two behemoths should be seen as a bigger hurdle to jump through for any real market share.”

A representative for AMD told Mobile World Live (MWL) the company “continues to consistently execute our x86 leadership roadmap, delivering high-performance products that power everything from PCs to data centres”.

“We are confident in our ability to continue driving innovation and market share growth and reinforcing AI as the company’s top strategic priority.”

Trump factor
While Huang accompanied President Donald Trump on his trip to the UK, he said the president had “no involvement in the partnership at all,” but his administration “would have been very supportive”.

The Nvidia CEO said he told US Secretary of Commerce about the partnership while both were in London,” and he was very excited, very supportive of seeing American technology companies working together”.

Huang said Nvidia and Intel started working on the partnership over year ago, which pre-dates Tan taking over as CEO in March. The Intel CEO said he started collaborating with Huang on his first day as CEO.

Top turnaround
After slashing the company’s headcount and hearing Trump call for his resignation, Tan has mounted a dramatic comeback which also includes a 10 per cent equity stake in the company by the US government and a $2 billion capital injection from SoftBank Group.

“This is a game changer deal for Intel as it now brings them front and centre into the AI game,” analyst Dan Ives of Wedbush Securities told MWL. “This has been a golden few weeks for Intel after years of pain and frustration for investors.

“Today’s announcement further strengthens the US lead in the AI Arms Race against China as Intel now goes from a laggard to a catalyst.”

Summing up the news, Gold said the partnership “should be seen as advantageous to both companies, “and not just seen, as some might say, as a bail-out for Intel”.

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Nvidia stated it would invest the sum in Intel’s common stock at a purchase price of $23.28 per share, subject to customary closing conditions including regulatory approval.

The sum is higher than the $20.47 price the US government paid for a 10 per cent stake in the company last month, amounting to an investment worth close to $9 billion.

With the investment, Nvidia will take around a 4 per cent stake in Intel, after new shares are issued to complete the deal.

As part of the agreement, Nvidia will work to bring products to market that “accelerate applications and workloads across hyperscale, enterprise and [the] consumer market”.

The pair will focus on seamlessly connecting respective architectures, combining Nvidia’s AI and accelerated computing capabilities with Intel’s CPU and x86 ecosystem.

In the data centre segment, Intel will build custom x86 CPUs, which Nvidia will integrate into its AI infrastructure platforms and offer out to market.

Jensen Huang, CEO of Nvidia, described the partnership as a “historic collaboration” and fusion of two world class platforms. “Together, we will expand our ecosystems and lay the foundation for the next era of computing.”

Intel counterpart Lip Bu Tan added the company was grateful for the “confidence Jensen and the Nvidia team have placed in us with their investment”.

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Michelle Johnston Holthaus’ (pictured) departure will end a 30-year career with Intel spanning various roles.

She is currently chief executive of Intel Products and was co-CEO with David Zinsner from December 2024 until mid-March when Tan was appointed permanent successor to Pat Gelsinger.

Holthaus will be eased out, taking on an advisory role for a matter of months “to ensure a seamless transition”, Intel stated.

Tan offered his thanks to an executive who “transformed major businesses, built high-performing teams and worked to delight our customers”.

Reuters noted Intel faces continued pressure over its financial performance and the latest reshuffle fits with an earlier article it posted over the new CEO’s desire to simplify the management structure.

Movers and shakers
Intel appointed Kevork Kechichian as EVP and GM of its Data Centre Group: the executive “brings more than 30 years of industry experience”, most recently as EVP of engineering at Arm.

Other changes involve Jim Johnson becoming the permanent SVP and GM of Intel’s Client Computing Group after holding the position on an interim basis, while Srini Iyengar is to lead a new Central Engineering Group.

Iyengar joined Intel from Cadence Design Systems in June, the company explained.

There is also an expanded role for Naga Chandrasekaran, EVP and chief technology and operations officer at Intel Foundry, to foster integration across development, production and sales.

Tan’s opening six months as Intel CEO have been fraught, dominated by talk of layoffs and the administration of US President Donald Trump suggesting the executive had close ties with Chinese authorities which appears to have paved the way for the government to take a stake in the company.

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During an interview on Bloomberg Television last week (5 August), Amon stated Qualcomm “needs a technology that has efficient power consumption” when asked about using Intel chips.

“Intel is not an option today,” he said. “We would like Intel to be an option. If in the future Intel is ready for us, we’ll be an option.

“Right now, our suppliers are really TSMC and Samsung.”

As a fabless company, he noted Qualcomm needs a supply chain that is resilient and based in the US, which is why he is supportive of TSMC and Samsung’s domestic investments in the face of tariffs by US President Donald Trump.

TSMC is receiving $11.6 billion in grants and loans under the US CHIPS and Science Act to build a third production facility.

Samsung plans to invest more than $40 billion to expand its semiconductor manufacturing capabilities in the state of Texas, with government support of $4.6 billion.

“We like the fact that TSMC, which is one of our suppliers, is investing in America,” he said. “We like the fact that Samsung, another one of our suppliers, invests in America.

“For Qualcomm, this is actually great news.”

Amon said he was invited to President Trump’s AI dinner on 4 September, which included tech titans such as Apple CEO Tim Cook, OpenAI CEO Sam Altman and Meta Platforms CEO Mark Zuckerberg, but Qualcomm was celebrating its 40^th anniversary at a sports stadium in its hometown of San Diego, California the same evening.

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Last year, Intel spent $16.6 billion on R&D, a staggering 33.6 per cent of total revenue, ranking it first in spending in the chip industry, Korea JoongAng Daily reported, citing data from TechInsights. The figure, however, was up only 3.1 per cent year-on-year, while the company registered an $18.8 billion loss.

Nvidia was second, earmarking 10.8 per cent of sales, or $12.5 billion, on R&D in 2024, but the outlay grew 47 per cent year-on-year. The company sharply increased the investment for four consecutive years, the newspaper stated.

Third-ranked Samsung boosted its R&D investment by 71.3 per cent to $9.5 billion, as it moved to catch up with rivals in high bandwidth memory (HBM).

Taiwan Semiconductor Manufacturing Company increased spending 8.8 per cent to $7.4 billion, putting it in seventh position, while SK Hynix ranked tenth, boosting R&D spending 32.7 per cent to $3.3 billion.

The newspaper noted by R&D-to-revenue ratio, US firms dominated the rankings, with Intel, Broadcom, Qualcomm and AMD the leaders. The average ratio for the top 20 was 15.8 per cent.

Samsung allocated 11.7 per cent of revenue to R&D; SK Hynix just 7 per cent.

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In a 29 August filing, the Federal Register, which is the official journal of the US federal government, stated the validated end-user (VEU) authorisations for the chipmakers to produce chips in China will be removed.  

The government’s end-user review committee (ERC), which is responsible for administering the VEU, removed Intel, SK Hynix and Samsung from the VEU programme.

The ERC is primarily composed of representatives from the US Departments of State, Defense, Energy and Commerce.

Reuters reported the chipmakers need to obtain new licences to buy equipment in China.

The news agency also reported the licensing change could reduce sales to China by US equipment manufacturers KLA Corp, Lam Research and Applied Materials.

Reuters also noted China-based equipment makers could benefit from the revocations by suppling companies with their gear.

Intel sold a factory in Dalian, China to SK Hynix five years ago, but Reuters reported it continues to manufacture wafers there.

The rule is effective 120 days after the Federal Register publishes it on 2 October, according to the filing.

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Bloomberg reported last week the US government entered talks with Intel about taking a stake in the chipmaker after President Donald Trump appeared to soften his stance on a call for CEO Lip-Bu Tan to resign immediately.

“He walked in wanting to keep his job and he ended up giving us $10 billion for the United States. So we picked up $10 billion,” Trump said today (22 August), according to Bloomberg.

Trump added the move “is a great Deal for America” and said the building of advanced chips “is fundamental to the future of our Nation.” 

Intel said in a statement that the US government would make a $8.9 billion investment in Intel common stock.

Trump’s interest in propping up the chipmaker is part of a move by his administration to strengthen domestic semiconductor manufacturing across sectors it deems central to US national security.

A statement from Intel said the government’s equity stake will be funded by the remaining $5.7 billion in grants previously awarded, but not yet paid, to Intel under the U.S. CHIPS and Science Act and $3.2 billion awarded to the company as part of the Secure Enclave program.

It added: “The $8.9 billion investment is in addition to the $2.2 billion in CHIPS grants Intel has received to date, making for a total investment of $11.1 billion.”

Earlier this week, Intel received a $2 billion capital injection from SoftBank Group.

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Google packs more Gemini AI into new Pixel 10 devices

What happened: Google launched its Pixel 10 range of smartphones which featured its newest advanced AI capabilities, refreshed designs and improved camera technology.

Why it matters: The smartphone turf war is coming down to the company which can fit the most AI features into devices, and Google is clearly winning the battle against Apple. Among the Pixel 10′s new AI features is Magic Cue which integrates across apps to provide timely, context-aware information and actions, such as displaying flight details during calls or finding photos instantly. Google stated the latest version of its Gemini Nano model and its Tensor G5 chip work together to run Magic Cue privately and securely on the devices. For the smartphone camera, Google announced Camera Coach which uses Gemini AI to guide users on photo composition and framing while also recommending the best angle and lighting. “Google is pushing the boundaries of premium devices, especially in camera and AI integration, leveraging Gemini and showcasing that the promise of a universal agentic AI assistant can actually be in your hands today,” noted IDC analyst Nabila Popal.

SoftBank to take $2B stake in Intel

What happened: SoftBank Group forged a deal to acquire $2 billion in Intel stock, in a move that backs the troubled chipmaker while further expanding the Japanese company’s footprint in the US.

Why it matters: SoftBank chair and CEO Masayoshi Son stated Intel has been a trusted leader in innovation for more than 50 years. He added the investment “reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role”. The past few weeks have been a whirlwind for Intel as US President Donald Trump called for CEO Lip-Bu Tan to resign but then reversed course as his administration is now considering a 10 per cent stake in the chipmaker.

 Meta shakes up AI group to chase superintelligence effort

What happened: Meta Platforms carved up its freshly formed AI group into four separate teams as part of the company’s plan to utilise recent hires from competing players.

Why it matters: Bloomberg reported the new teams are designed to ramp up Meta Platforms’ ambition to develop AI-based personal superintelligence for users. The news agency cited an internal memo by chief AI officer Alexandr Wang which stated Meta Superintelligence Labs (MSL) now has four distinct parts. The Information reported the move marks Meta Platforms’ fourth AI pivot over the past six months as CEO Mark Zuckerberg is seeking to close the gap on rivals OpenAI, Google and Microsoft. Following the formation of the new teams, Meta paused its AI hiring effort after adding 50 engineers and researchers from rivals. Analyst Dan Ives of Wedbush Securities told CNBC Meta is in “digestion mode” following its AI spending spree.

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Bloomberg reported the Trump administration’s talks with the beleaguered chip maker could include up to $8.5 billion in direct funding from the US CHIPS and Science Act announced last year, along with $3.5 billion in federal grants for the production of chips for the US Department of Defense.

The news agency stated the federal funding could be used to partially finance the 10 per cent equity stake in Intel, but noted negotiations are in the early stages and other arrangements could be reached.

Bloomberg reported Trump’s interest in propping up the chipmaker is part of a move to strengthen domestic semiconductor manufacturing across sectors it deems central to US national security.

It reported last week the US government entered talks with Intel about taking a stake in the chipmaker after President Donald Trump appeared to soften his stance on a call for CEO Lip-Bu Tan to resign immediately.

In a similar move last month,  Nvidia and AMD reached an agreement with the US government to restart sales of their AI chips to China, with the chipmakers to receive export licences in return for paying a levy of 15 per cent of revenue.

Intel confirmed a plan in April to reduce its headcount going forward as part of an overall effort to cut expenses this year and streamline its operations.

.

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In a joint statement, the companies noted they signed a definitive securities purchase agreement, with SoftBank to pay $23 per share of Intel common stock.

SoftBank Group chair and CEO Masayoshi Son stated Intel has been a trusted leader in innovation for more than 50 years. He added the investment “reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role”.

Intel CEO Lip-Bu Tan said: “We are very pleased to deepen our relationship with SoftBank,” a company at the forefront of so many areas of emerging technology and innovation.

The deal is subject to standard closing conditions.

The investment comes a day after SoftBank reportedly acquired a factory in Ohio from Foxconn which it will use to build AI data centre equipment under the $500 billion Stargate project.

The US government reportedly is looking at a stake in Intel by converting a portion or all its funding from the US CHIPS and Science Act.

Earlier in the month, Bloomberg reported Ericsson held talks with Intel about taking a minority stake worth hundreds of millions of dollars in the US company’s planned network and edge spin-off.

Intel announced plans to cut more than 20 per cent of its staff earlier in the year, after shedding 15,000 workers at the end of 2024.

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Perplexity makes $34.5B Chrome bid

What happened: Perplexity AI reportedly made a surprise $34.5 billion cash offer to acquire Google’s Chrome browser, in a move that could serve as both a competitive play and a potential antitrust remedy.

Why it matters: The Wall Street Journal reported the bid significantly undervalues Chrome, with estimates ranging from $20 billion to $50 billion, but still represents nearly double of Perplexity’s own $18 billion valuation. The AI company apparently stated it has secured backing from major venture capital investors to fund the deal. Although Perplexity operates an AI-powered browser dubbed Comet, a Chrome purchase could pave a strategic path to challenging Google and rivals including OpenAI. The move comes amid mounting regulatory pressure on the search giant; in 2024, the US Department of Justice urged the company to divest its browser following a court ruling that found Google held a monopoly in the search market. While the search giant plans to appeal, Perplexity reportedly stated in a letter to Google and Alphabet CEO Sundar Pichai that the the bid was “an antitrust remedy in the highest public interest” by placing Chrome under an “independent, capable operator”. Bloomberg columnist Dave Lee described the offer as “mischievous,” suggesting it is as much about influencing Google’s antitrust case as it is about closing a deal.

Apple reacts to Musk bias claims

What happened: Apple reportedly moved to dismiss fresh fire from Elon Musk accusing the iPhone-maker of bias in how it ranks AI apps on its App Store, emphasising that its listings are determined by objective algorithms.

Why it matters: The comments follow a string of posts on X from Musk in which he alleged Apple was making it “impossible” for AI products other than OpenAI’s ChatGPT to take the top spot in its store, branding the move “an unequivocal antitrust violation” and threatening immediate legal action. Musk also claimed Apple “refused” to place Grok or X in its “Must Have” section, questioning whether the company was “playing politics” and accusing it of behaving “like it’s owned by OpenAI”. At the time, Musk’s xAI-developed Grok chatbot sat sixth in the US iPhone free app chart, while ChatGPT held the number one position. Apple hit back, stating the rankings of its App Store are based on various means and denied Musk’s accusation of favouritism towards its AI partner OpenAI following a deal between the pair in 2024. The heated public dispute marks the latest flashpoint in a long-running feud between Musk and OpenAI boss Sam Altman.

Intel chief wins presidential reprieve

What happened: US President Donald Trump cooled on a demand last week for Intel CEO Lip-Bu Tan to resign immediately, following a face-to-face meeting in Washington.

Why it matters: In a post on Truth Social, Trump described the meeting as “very interesting”, praising Tan’s personal success story and confirming he would seek input from his cabinet before taking further action.The reversal comes days after Trump declared there was “no other solution” than for Tan to step down, reportedly due to the government concerns around alleged links to Chinese companies. Tan assumed leadership in March, replacing Pat Gelsinger, who departed in late 2024. Intel stated the discussion with Trump was “candid and constructive”, centring on the company’s plans to bolster US technology and manufacturing capabilities. The struggling chipmaker emphasised its intention to work closely with the administration “as we restore this great American company”. As reports of the latest meeting emerged, Intel shares rose 3.5 per cent during the day on Monday, highlighting how foreign ties remain under intense scrutiny in the tech industry under the Trump administration.

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Bloomberg reported the plan came to fruition following a meeting between President Trump and Tan this week, which was held to clear up concerns the White House had about the chief executive’s ties and investments in Chinese companies.

President Trump last week called for the immediate resignation of Tan over the issue, but seemed to have a change of heart following the meeting, indicating his team was willing to work with the CEO.

The size of the mooted stake was not reported, but sources claim the US government is prepared to pay it directly.

Details are still being sorted and talks could end without an agreement, Bloomberg added.

Deeply committed
A deal with US government would likely provide a boost for the development of a planned Intel factory hub in Ohio, which the chipmaker once said would become the largest chipmaking facility in the world.

The plan, however, faced delays.

An agreement would also give Intel a much-needed financial boost, as Tan pushes ahead with a plan to reduce its headcount by more than 20 per cent as part of a wider cost cutting effort.

Intel did not directly respond to news of the talks to Bloomberg, but stated it was “deeply committed to supporting President Trump’s efforts to strengthen US technology and manufacturing leadership”.

White House spokesperson Kush Desai told the outlet “discussion about hypothetical deals should be regarded as speculation unless officially announced by the administration”.

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 The meeting yesterday (11 August) included members of President Trump’s cabinet.

“I met with Mr. Lip-Bu Tan, of Intel, along with Secretary of Commerce, Howard Lutnick, and Secretary of the Treasury, Scott Bessent,” Trump wrote in a post on Truth Social. “The meeting was a very interesting one. His success and rise is an amazing story.

“Mr. Tan and my Cabinet members are going to spend time together and bring suggestions to me during the next week. Thank you for your attention to this matter!”

Intel stated Tan had “the honour of meeting with President Trump for a candid and constructive discussion on Intel’s commitment to strengthening US technology and manufacturing leadership”.

“We appreciate the President’s strong leadership to advance these critical priorities and look forward to working closely with him and his administration as we restore this great American company.”

Last week, Trump wrote on Truth Social there was “no other solution to this problem” than the departure of Tan, who took over as CEO in March following the exit of Pat Gelsinger in late 2024.

Reuters reported Intel chair Frank Yeary was quizzed by a politician over Tan’s Chinese links and running of Cadence Design Systems, where he was CEO for 12 years.

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In a post on Truth Social, Trump wrote there was “no other solution to this problem” than the departure of Tan, who took the Intel hot seat in March following the exit of Pat Gelsinger in late 2024.

While Trump did not provide details on his concerns about Tan, Reuters reported this week US Republican senator Tom Cotton had sent a letter to Intel’s board chair Frank Yeary with questions about Tan’s relations with Chinese companies and legal issues around Cadence Design Systems. The now Intel boss served as CEO of the software company from 2009 until 2021.

According to the news outlet, Tan has invested in hundreds of Chinese companies himself, or through venture funds he operates. It appears a key concern for the US administration is the fact some of these companies allegedly have links to the Chinese military.

At least $200 million has been invested by Tan in Chinese advanced manufacturing and chip companies over a 12 year period up to December 2024, Reuters added.

In his letter to Yeary, Cotton wrote: “Intel is required to be a responsible steward of the American taxpayer dollars and to comply with applicable security regulations. Mr Tan’s associations raise questions about Intel’s ability to fulfil these obligations.”

Response
In a company statement, Tan said Intel was engaging with the Trump administration to address the matters that have been raised and ensure they have all the facts. “I fully share the President’s commitment to advancing US national and economic security,” he added.

Tan also said he had operated within the highest legal and ethical standards during his 40 years in the industry, and the Intel board was fully supportive of work being done to transform the company.

Since taking the Intel role, Tan has outlined a plan to reduce the company’s headcount by more than 20 per cent as part of a wider cost cutting effort, while implementing a more streamlined approach to operations.

Reaction
Anshel Sag, principal analyst at Moor Insights and Strategy, told Reuters the President “shouldn’t be calling for any CEO to step down, especially not one who just took the job this year”.

“I think this all boils down to Lip-Bu’s past involvement and investment in Chinese semiconductors, which is also what makes him so valuable as CEO.”

David Wagner, head of equity and portfolio manager at Intel shareholder Aptus Capital Advisors, however argued that while many would claim Trump has his hands in too many cookie jars, “it’s just another signal that he’s very serious about trying to bring back business to the US”.

“He has momentum from the Apple deal and now hoping that a few more businesses fall into place.”

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The news agency noted discussions were ongoing and may not materialise in a deal, while also highlighting Intel was in discussions with other companies over investing in the unit.

In a statement to Bloomberg Intel did not name Ericsson specifically but said it had started the process of identifying strategic investors in the business.

The future of Intel’s NEX group has been the subject of media speculation for months. Last week, news publication CRN published details of a memo apparently sent by Intel to customers confirming the unit would be spun-off into a standalone business.

Intel’s NEX division makes chips for networking equipment use in the telecoms sector and counts Ericsson among its customers.

Repeated media reports related to the division come as Intel moves to slash costs and streamline its business.

As part of the push it has already agreed a deal to sell a $4.4 billion stake in programmable chip business Altera to Silver Lake and made staff cuts.

In another move to cut outgoings, last week Intel announced its heavily touted manufacturing projects in Germany and Poland would be nixed, alongside consolidating some of its assembly and test operations.

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In a regulatory notice dated 7 July, Intel stated the layoffs would commence during a two-week period beginning on 15 July.

Based on a list filed in a Worker Adjustment and Retraining Notification document, the job cuts include engineers working on cloud systems, development tools software, product development, system and software optimisation and programme managers. 

Intel told Bloomberg the layoffs are necessary to streamline operations and improve competitiveness.

The staff reductions represent more than a fifth of the company’s overall headcount, Bloomberg reported.

Bloomberg noted Intel also eliminated 107 jobs at the company’s headquarters in Santa Clara, California last month.

The news outlet reported in April Intel planned to cut more than 20 per cent of its staff in an effort to cut expenses this year and streamline operations.

Intel shed 15,000 workers at the end of 2024, leaving it with around 109,000 employees.

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Reuters reported Intel has yet to launch a formal process to divest the division, which it calls NEX, but has engaged with investment banks over the past few weeks to find an advisor on a potential sale.

The news agency explained Intel is considering how and when to exit the business and has engaged with third parties which could be interested in a deal.

Intel’s NEX division makes chips for telecoms equipment, which Reuters stated is no longer one of the company’s core areas under Tan.

Reuters’ sources stated discussions are in the early stages and that Intel could decide to go in a different direction rather than selling NEX.

In April, Intel agreed to sell off a 51 per cent stake in its programmable chip business Altera to private equity company Silver Lake.

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While recent reports indicate the company could lay off about 20 per cent of its staff, CEO Lip-Bu Tan and CFO David Zinsner stated on the company’s Q1 earnings call yesterday (24 April) that it is too soon to determine the exact number.

In his first earnings report since taking over as CEO in March, Tan stated his “biggest learning so far is that we need to fundamentally transform our culture and the way in which we operate”.

He outlined a plan to cut operational and capital expenses, remove middle management layers and rebuild its engineering talent pool by promoting from within and “bringing back critical lost talent”.

“There is no way around the fact that these critical changes will reduce the size of our workforce,” he said in a letter to employees on Intel’s website. “As I said when I joined, we need to make some very hard decisions to put our company on a solid footing for the future.”

Tan stated on the earnings call his first step includes flattening Intel’s leadership team and having all critical product, manufacturing, and G&A functions that are spread out across two to three layers report directly to him.

Starting in Q3 2025, Intel will mandate a four day per week return to office policy.

“I know first-hand the power of teamwork and this action is necessary to re-instil a more collaborative working environment, improving efficiency and boost innovation,” Tan explained.

Intel did not include restructuring charges in its guidance.

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Bloomberg reported the company is poised to announce the move later this week, with sources telling the outlet the cuts will help with streamlining management and kick-off a wider rebuild that focuses on engineering.

A shake-up was indeed expected. After taking on the role on 18 March, Reuters reported Tan may look to revamp the company’s manufacturing processes and cut jobs at middle management level, while putting Foundry and AI chip production at the top of the agenda.

The latest job cuts follows the exit of 15,000 workers at the end of 2024, leaving it with around 109,000 employees.

Intel is scheduled to report its first quarter 2025 results tomorrow (24 April), with Tan expected to reveal his longer term strategy.

Speaking at a company event last month, Tan said it needs to bolster its engineering team and improve its balance sheet, while he has already made moves to spin-off non-core assets.

Last week, the company struck a deal to sell a 51 per cent stake in programmable chip unit Altera to Silver Lake Management.

Tan replaced Pat Gelsinger who resigned at the end of 2024 following a three-year push to revive the company’s fortunes after it faced struggles due in part to increased competition from the likes of Nvidia.

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The deal, expected to close in H2 2025, values Altera at $8.75 billion. While Altera will operate as an independent company, Intel will retain a 49 per cent stake and remain a strategic partner.

Altera, which designs field-programmable gate arrays (FPGAs), was acquired by Intel in 2015 for nearly $17 billion.

While the stake sale marks a sharp decline in its valuation, Intel remains optimistic, explaining the move will give the business the operational freedom to focus on fast-growing AI-driven sectors including edge computing and robotics.

The deal is subject to regulatory approval.

Along with the deal, Intel revealed Altera CEO Sandra Rivera would step down and Raghib Hussain, a former executive at semiconductor company Marvell, would take the helm on 5 May.

Discussing the prospects of Altera, Hussain noted “with clarity of focus as an independent company” it was “well-positioned to build on its momentum and deliver breakthrough FPGA-based solutions that are shaping the future of compute driven by AI”.

Intel CEO Lip-Bu Tan added the deal “reflects our commitment to sharpening our focus, lowering our expense structure and strengthening our balance sheet”.  

Altera generated $1.54 billion in revenue last year but posted an operating loss of $615 million.

The latest development follows reports by Bloomberg in February suggesting Silver Lake was in exclusive talks to acquire a majority stake in Altera.

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TSMC will hold a 20 per cent interest in the JV, with Intel and other US chipmakers owning a majority interest, Bloomberg reported. The contract chipmaker is looking to share some manufacturing techniques with Intel in exchange for a minority stake.

In March, TSMC encouraged Nvidia, AMD and Broadcom to acquire stakes in the planned venture, Reuters reported.

As part of a wider cost-cutting initiative, the troubled chipmaker first considered selling its foundry business to TSMC in September 2024, news agencies reported.

Intel sold its stake in UK chip design company Arm for about $147 million in August 2024.

In March, it named former board member Lip-Bu Tan to replace long-serving CEO Pat Gelsinger.

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Gold is president and principal analyst at J Gold Associates: in a statement, he highlighted Tan’s deep grasp of the chip industry, predicting Intel would reap benefits across design and production.

Intel announced Tan as the permanent successor to Pat Gelsinger yesterday (12 March), with the appointment beginning on 18 March and ending the tenure of interim co-CEOs David Zinsner and Michelle Johnston Holthaus.

Tan is due to rejoin Intel’s board, a post the company stated he relinquished in August 2024.

Intel explained Zinsner would remain an EVP and CFO, and Johnstone Holthaus continues as CEO of Intel Products. Interim executive chair Frank Yeary moves back to being an independent board head.

The chip company stated Tan brings “more than 20-years of semiconductor and software experiences”, with spells as CEO of software company Cadence Design Systems and credit as a founding managing partner with Walden Catalyst Ventures among the roles highlighted.

“Tan is a longtime technology investor and widely respected executive”, Intel stated.

Gold star
The incoming CEO’s broad semiconductor knowledge is tipped by Gold to benefit Intel Foundry along with the company’s design units.

Gold said the production division “needs help” in making “tools more user friendly and accessible for potential customers”.

Any move for a “financial or other non-chip industry CEO” would have “been a bad” one, Gold said. He expects Tan’s time with Cadence Design Systems to be a particular benefit when it comes to tackling the significant challenges facing Intel.

Gold called for Tan to be given something of a free rein: “hopefully the board will stay out of his way as he makes needed changes”.

“While I didn’t agree with the firing of Pat Gelsinger, at least his replacement seems capable of continuing Intel’s turnaround”.

But Gold noted patience is the watchword, asserting it would take up to two years for the effects of a turnaround in Intel’s business to become clear.

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David Feng and Jennifer Larson of Intel outline what enterprises need to do to realise the potential of AI PCs

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Sachin Katti discusses how Intel’s new Xeon 6 family of chips can modernise telecoms networks.

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The chipmaker acquired Altera in 2015 for $16.7 billion in an effort to strengthen its data centre and IoT portfolio. Nearly a decade later, Intel is reportedly eyeing a sale of the venture as it shifts investments towards its foundry business and cuts costs amid financial pressures.

Bloomberg sources claim the company is in exclusive discussions with Silver Lake, a renowned technology investor. Bain Capital also held an interest in the acquisition last year, Reuters reported

Selling a stake in Altera could provide Intel with cash influx and align with the chipmaker’s efforts to streamline operations as it battles a downturn in revenue. The company reported bleak Q2 2024 results, a time when it announced plans to reduce its workforce by 15 per cent by the end of the year in a multi-billion dollar cost-saving bid. The company’s struggling fortunes also led to the departure of CEO and board member Pat Gelsinger late last year.

Intel remains optimistic on the potential deal, which could pave the way for a full exit.

Reports of a possible sale of Intel’s chip design and manufacturing business have circulated for months. In September, US chip giant Qualcomm also explored a deal but ultimately backed out due to the transaction’s complexity.

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AI RAN and smart glasses were among the 101 technology trends the research company listed. On the former, it explained although while SoftBank completed a trial in 2024, it does not expect actual deployments until 2026, with broader adoption likely in 2027.

Chief research officer Stuart Carlaw explained ABI Research expects “trials and pilot projects will advance the technology” in 2025, “but large-scale deployment will take longer to materialise”.

In a whitepaper, ABI Research noted “many industries and end markets are in that awkward stage of technology adoption”, as they ponder implementation strategies, assess technologies and partners, and decide if they have the resources to deploy services and applications at scale.

“This is a particularly sensitive time, which tends to suggest 2025 will have tech implementers and end users on the brink of a period of a massive technology shift as they work through these issues.”

The company believes the consumer smart glasses sector will also not see widescale adoption.

“Despite the significant strides we will see in AI, smart glasses are expected to remain predominantly in the realm of early adopters”.

The company expects 2025 to be another transitional year for smart glasses, “with most traction coming from niche applications rather than widespread consumer or at-scale deployment”.

On the plus side, VR is tipped to maintain a strong grip across gaming, sports and fitness, sectors which have driven consumer demand.

ABI Research also popped the bubble on semiconductor onshoring efforts, arguing 2025 would be “a pivotal reality check for US and European” efforts “as implementation challenges force significant delays”.

It noted despite massive funding for US-based chip manufacturing through the CHIPS and Science Act, TSMC, and Intel‘s domestic and European ambitions “face setbacks due to EUV machine shortages, workforce gaps and operational complexities”.

“Full operational capacity is unlikely before 2027, jeopardising the EU’s goal of 20 per cent global chip production by 2030”.

Instead, obstacles will lead to strategic reassessments in 2025 and shift the focus from full onshoring to “pragmatic” diversification and trusted partnerships.

“The semiconductor cold war may also slow innovation in AI and other advanced technologies reliant on cutting-edge chips”.

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Mavenir joins AT&T open RAN party

What happened: AT&T expanded its ecosystem of network infrastructure providers and suppliers for open RAN, adding Mavenir to the mix and signing a new agreement with Fujitsu.

Why it matters: A year after AT&T’s $14 billion open RAN deal with Ericsson, the operator inked new agreements with Fujitsu and Mavenir to develop radios specifically for crowded urban areas. The move provided clear evidence the operator’s open RAN strategy is multi-vendor, after industry pundits questioned whether working with Ericsson truly marked a move towards the approach.

Intel CEO Gelsinger retires short of company turnaround

What happened: Intel’s board of directors reportedly gave CEO and board member Pat Gelsinger the option of retiring or being removed, which resulted in his resignation.

Why it matters: After a three-year turnaround plan to revive declining performance, it appears the company’s board of directors lost patience with Gelsinger. Under the CEO’s leadership, Intel has failed to keep pace with rivals including Nvidia in the crucial battle for AI market share. Attention will now turn to Gelsinger’s replacement. Hans Mosemann, analyst at Rosenblatt Securities told Bloomberg an external hire may “prove a tall order in a cycle of innovation that is more intense than ever”.

BT strikes new £1.3B deal for UK emergency network

What happened: BT Group renewed its expiring deal with the UK’s Home Office, signing a £1.29 billion contract to supply communication services across the government’s ESN for first responders.

Why it matters: BT will hope to avoid the issues it faced with its previous ESN contract, struck in 2015, with the project riddled with high costs and delays. The refreshed agreement will require BT to provide mobile coverage to more than 300,000 users, expand connectivity to other areas including the Home Office’s Air-to-Ground network, the London Underground, and be charged with carrying out the UK’s “largest ever” single rollout of coverage solutions for indoor locations. Bas Burger, CEO of BT Business, said it was proud to double down on its commitment with the Home Office.

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Meurice served as president and CEO of ASML from 2004 to 2013 while Sanghi is chair of Microchip Technology’s board. Sanghi is currently interim CEO and president at Microchip Technology after a previous stint as CEO from 1991 to 2021.

Frank Yeary, who is interim executive chair following Gelsinger’s departure, stated Meurice and Sanghi “will bring valuable perspectives to the board as the company delivers on its priorities for customers in Intel Products and Intel Foundry, while driving greater efficiency and improving profitability”.

Reuters reported Yeary, the independent chair of the board of Intel, was among those unhappy with Gelsinger’s plan to revive the company, which led to the board of directors giving him the option of retiring or being removed during a meeting last week.

The move to bring on Meurice and Sanghi as independent directors could signal Intel is exploring various options going forward.

Radio Free Mobile founder Richard Windsor wrote the ousting of Gelsinger “means that Intel will almost certainly be split up and could be absorbed into other companies meaning that the once all-powerful Intel brand may soon be just a memory”.

“This is also a gift for Qualcomm, Nvidia, AMD and MediaTek to come and take its business while Intel is tying itself in knots with its internal issues.”

Windsor stated Gelsinger’s attempt to return Intel to the front line of semiconductor manufacturing with foundry and design remaining under a single roof is “now out of favour with the board”.

“This means that Gelsinger’s successor will most likely press ahead with a plan that breaks Intel up into separate pieces which I think spells the end of Intel as we know it,” he wrote.

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