Xin Lang Cai Jing·2025-12-23 01:33Core Insights - Intel's foundry business is facing challenges in attracting customers due to its dual role as both a competitor and a foundry partner [1][4] - The new CEO, Pat Gelsinger, believes Intel can improve its semiconductor business without splitting the foundry operations, despite external pressures for separation [1][4] - To build trust with potential foundry clients, Intel must clearly delineate between its product and foundry divisions [1][4] Customer Concerns - Companies like NVIDIA and AMD are considering Intel's foundry services as an alternative to TSMC due to TSMC's capacity constraints and U.S. manufacturing policies [3][7] - Concerns about "technology leakage" remain a significant barrier for customers when placing orders for core products [3][7] Intel's Response - Intel is taking steps to address these concerns by establishing an independent advisory board and moving towards becoming a separate legal entity for its foundry business [3][7] - The company is prepared to act quickly if the board and CEO determine that a split would create value [3][7]