Intel’s comeback story is even wilder than it seems

In Brief

Bloomberg has a deep dive this week into however Intel CEO Lip-Bu Tan is trying to rescue 1 of Silicon Valley’s astir storied, and stumbling, chipmakers. It’s worthy a read, but it really undersells the astir jaw-dropping portion of the story: Intel’s banal has risen a stunning 490% implicit the past year, a stake by Wall Street that whitethorn beryllium moving good up of the company’s existent turnaround.

Tan, who took implicit successful March of past year, has spent overmuch of his archetypal twelvemonth schmoozing alternatively than restructuring — locking successful a sweetheart deal with the U.S. authorities (now Intel’s third-largest shareholder), cozying up to Elon Musk connected a factory partnership, and reportedly landing preliminary manufacturing agreements with some Apple and Tesla.

The fundamentals are inactive messy. Intel’s spot yields lag good down manufacture person TSMC, and employees archer Bloomberg that Tan has been airy connected specifics internally, with immoderate teams adjusting missed deadlines alternatively than recovering from them

But investors are betting large connected the bigger picture. Whether the execution follows is the multi-billion-dollar question.

Subscribe for the industry’s biggest tech news