Intel says its 'no wafer left behind' days are over

Core Insights - Intel is shifting its focus towards efficiency and adopting a zero-waste production model to improve its financial performance and competitiveness in the semiconductor industry [2][3][6] - The company has faced significant challenges, including a nearly 50% drop in share price this year, billions in losses, and increased competition from companies like Nvidia and Samsung [6][8] Group 1: Strategic Changes - Intel executives emphasized the need for a "no capital left behind" mindset, moving away from the previous strategy of producing excess wafers in anticipation of demand [5][7] - The company is undergoing a thorough review of its capital spending and operating expenses, with a focus on scrutinizing every dollar spent [8] Group 2: Financial Outlook - Intel's capital expenditures were reported at $25.8 billion last year, an increase from$18.7 billion two years prior, with expectations for continued high spending in the coming years [8] - The company is set to receive a $7.9 billion grant from the CHIPS Act, which is primarily awarded in tax credits, although this is less than the initially promised$8.5 billion due to a separate $3 billion military chip production grant [10] Group 3: Leadership Changes - Following the abrupt departure of CEO Pat Gelsinger, Intel is considering candidates such as Lip-Bu Tan and Matt Murphy for the CEO position [13]