Intel’s Ambitions To Compete With Taiwan Semiconductor, Samsung Suffers Jolt After Losing Foundry Head

  • Intel Corp (NASDAQ: ) executive Randhir Thakur, who headed its push into the contract-manufacturing industry, is leaving the chipmaker, jeopardizing .

  • Thakur “has decided to step down from his position to pursue opportunities outside the company,” Bloomberg  citing an emailed statement.

  • “He will stay on through the first quarter of 2023 to ensure a smooth transition to a new leader.”

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  • After losing its role as the leader of the $580 billion chip industry, Intel has set out to become a so-called foundry, an area dominated by Taiwan Semiconductor Manufacturing Company Ltd (NYSE: ) and Samsung Electronics Co, Ltd (OTC: ).

  • Thakur had sought .

  • The effort has included plans to  Europe to win chipmaking contracts from companies like Apple Inc (NASDAQ: ) and Qualcomm Inc (NASDAQ: ).

  • Thakur will stay on until Intel completes its acquisition of Tower Semiconductor Ltd (NASDAQ: ).

  • Price Action: INTC shares traded higher by 1.21% at $29.29 on the last check Tuesday.

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