Intel's Chip Moonshot Is About Supremacy, Not Profit
CEO Pat Gelsinger lays out a bold plan to regain the U.S. lead in semiconductors after being overtaken by Asian rivals.
Intel intends to survive by going big.
Source: NASA/Hulton Archive via Getty Images
He may not be the leader of the free world, but Pat Gelsinger has just put himself at the helm of the Great American Revival amid a technology cold war that the U.S. is paranoid it will lose.
In an online presentation Tuesday afternoon, Intel Corp.’s new chief executive officer committed the California-based chipmaker to regaining semiconductor supremacy after losing the edge to rivals in Asia. He said he’s going to spend $20 billion on two new factories in Arizona and is in talks to set up another two in Europe. Even bigger checks will be cut in coming years.