Core Viewpoint - Intel is facing significant structural challenges in its foundry business transformation, particularly due to its dual role as both a competitor and a partner to major clients like NVIDIA, AMD, and Qualcomm [2][3]. Group 1: Structural Challenges - Intel's current momentum is severely hindered by its market positioning, as highlighted by former board member David Yoffie, who suggests that separating its product and foundry divisions is essential for success [2][3]. - Concerns about technology leakage are a major barrier for leading companies like NVIDIA and AMD in trusting Intel with their exclusive technologies, despite some interest in Intel's foundry services due to TSMC's capacity constraints [3][5]. Group 2: Strategic Responses - Intel is taking steps to address market and internal skepticism by moving towards establishing an independent legal entity for its foundry business, which includes setting up a dedicated advisory committee [4]. - The company is prepared to take further actions, including potential separation of its foundry and product businesses, if it is deemed to create more value [4]. Group 3: Future Prospects - The future of Intel's foundry business will largely depend on the progress of its process technology development, particularly the mass production of the Intel 18A process and preparations for the next-generation Intel 14A chips [5]. - While external clients have shown interest in these processes, the fundamental issue of trust regarding technology security remains critical for securing large-scale orders from major clients [5].