Hua Er Jie Jian Wen·2025-08-08 13:35Core Viewpoint - Intel's new CEO, Pat Gelsinger, is facing a dual crisis with external pressure from Trump demanding his resignation and internal strategic disagreements with the board regarding the future of the company's chip manufacturing business [1][2]. Group 1: Strategic Disagreements - The core disagreement between Gelsinger and the board revolves around whether to retain the loss-making chip manufacturing business, with the board chairman advocating for its spin-off while Gelsinger believes it is crucial for Intel and the U.S. semiconductor industry [2]. - The chip manufacturing division contributed approximately one-third of Intel's revenue last year but has been operating at a loss [2]. Group 2: Impact on Financing and Acquisitions - The strategic divide has directly impacted key decisions, including a planned multi-billion dollar financing initiative aimed at investing in chip manufacturing and strengthening the balance sheet, which has been delayed by board members [3]. - Intel was also exploring the acquisition of an AI company to catch up with competitors, but the slow review process by the board has led to potential competitors moving ahead with similar acquisitions [3]. Group 3: External Political Pressure - Trump's public demand for Gelsinger's resignation has added political tension to Intel's already fragile transformation process, potentially affecting the company's execution capabilities [4]. - In response to Trump's comments, Intel issued a statement reaffirming its commitment to U.S. economic and national security priorities, emphasizing ongoing significant investments aligned with the "America First" agenda [4].