Intel CEO on China, AI, and the Chips Act

At Barron's

Business

4.7 • 17 Ratings

🗓️ 26 October 2023

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

CEO Pat Gelsinger talks about how the company is navigating changing geopolitics.

Transcript

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0:00.0	Hi, it's Andy. Before we start today's interview, I'd like to ask for a favor. If you listen
0:07.3	on Apple, please write us a review and rate the podcast. It helps more people discover the show.
0:13.6	And as always, if you like what you hear, please share the podcast with a friend. And now,
0:18.7	on to the interview.
0:31.7	Hello, everyone, and welcome to At Barrens. I'm Andy Surwer. And welcome to our guest, Pat Gelsinger, CEO of Intel. Pat, great to see you.
0:43.2	Hey, great to be with you, Andy. And thanks for the opportunity to be on At Barron's today. Of course, chip makers very much in the news, your old rival AMD, and of course, Arm, Nvidia, Taiwan Semiconductor.
0:47.1	Talk to us about exactly where Intel fits into this competitive landscape pad.
0:52.2	Yeah, thank you, Andy.
0:53.2	And clearly, you know, I came back to Intel, you know, over a period of time, you know,
0:59.0	Intel had lost its way, lost his leadership, you know, lost its engineering or in the, you
1:05.0	know, words of our famous founder, Andy Grove, we had lost our Grovean culture, right? This maniac data-driven engineering-centric
1:13.6	view. So what have we been doing? Rebuild the company. And so two and a half years ago, we began what I called the IDM 2.0 journey.
1:22.6	Intel was the integrated design and manufacturer. Now under IDM 2.0, we're going to design, we're going to
1:30.6	manufacture, and we're going to be a foundry or manufacturer for other people's chips as well.
1:36.8	So a major strategic shift. It also became a major capital cycle. Hey, we were underinvesting in
1:43.4	factory. Hey, we are going to aggressively
1:45.5	invest in the build out of factories for the future. So a big capital investment. Also,
1:52.5	rebuilding of our technology leadership. Hey, we've done every major transistor invention for three
1:58.3	decades. Do it again and get back to transistor and process leadership,
2:03.1	but also rebuild the engineering disciplines, products on or ahead of schedule, products that
2:09.3	the competitors fear and customers love. So all of those things in two and a half years in,
2:14.8	I say we have a passing grade. We're getting it done.
	...

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