Intel CEO Lip-Bu Tan says restructuring is 80% complete

Intel CEO Lip-Bu Tan announced that the company has completed approximately 80% of its large-scale restructuring process. Since taking office in March 2025, Tan has replaced most senior executives and recruited new leadership, including former SK hynix CEO Seok-Hee Lee.

Intel is working to rebuild its foundry business and compete in the AI chip market against rivals like NVIDIA. Tan noted that catching up to industry leader TSMC is a long-term endeavor, citing that it took TSMC 10 to 20 years to achieve global leadership. This transition requires sustained, multi-billion dollar investments in new processes and facilities.

The restructuring has attracted significant capital, with NVIDIA and SoftBank investing $5 billion and $2 billion respectively. Tan also addressed the role of the U.S. government, which holds an approximately 8.2% stake following a conversion of federal subsidies into investment. He emphasized that the government does not interfere in Intel's strategic decisions and that the company remains independent.

Regarding competition with China, Tan stated that both U.S. and Chinese companies have different strengths and weaknesses, noting that the gap in semiconductor technology is not currently as large as some might suggest.