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As Intel welcomes a new CEO, a look at where the company stands
When Pat Gelsinger tool the helm at Intel in 2021, the company was already in rough shape. Here's what Intel's new CEO is walking into.
Tan, who was most recently the CEO of Cadence Design Systems, is joining Intel — and rejoining the board — at an interesting time in the Silicon Valley company’s history. As part of this plan, the company announced it would acquire Tower Semiconductor for $5.4 billion to help build out Intel’s custom foundry services. At that time, Gelsinger said the company had struggled to capitalize on the AI boom in the same way its rivals had, and that despite falling behind, Intel had overgrown headcount.
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