Intel CEO recognizes its 18A node for external customers as 18A-P gets 'inbound interest'
President Trump, Sec. Lutnick praise Intel after the launch of Panther Lake chips
"With a stronger balance sheet, meaningful progress across our roadmap — including Intel 18A and 14A — and a clear path forward under Lip-Bu, this is the appropriate time for me to step down as chair and from the board and transition leadership to a new independent chair,” said Yeary.
Almost at the start of his term, CEO Tan and Board Chairman Frank Yeary were split over whether to continue Intel’s semiconductor manufacturing and foundry business or to exit it.Chairman Yeary had drafted a plan to spin off the loss-making foundry business and invite minority… pic.twitter.com/rRQjKJzSyF August 8, 2025
Tan opposed it, arguing that the foundry is both “essential to Intel’s success and necessary for the U.S. to secure” a domestic alternative to TSMC. None of this has been acknowledged by Intel, however, so it should be read with appropriate caution.
What’s confirmed is that Yeary is leaving, and the new chair has publicly stated that his focus will be on supporting “rigorous execution” in investing and scaling U.S. R&D and manufacturing.
Tan has staked Intel’s recovery on first proving that 18A can work at scale, and second, convincing external customers to commit to Intel Foundry for production. Neither objective is achievable if the board retains any serious appetite for spinning out or selling the Intel Foundry business, which posted an operating loss of $13.4 billion in 2024.
Intel launched Panther Lake (Core Ultra Series 3) on 18A at CES in January, with consumer systems shipping later that month, making it the first commercial platform built on the node and the most advanced process ever manufactured in the United States, using RibbonFET gate-all-around transistors and PowerVia backside power delivery.
Yields are sufficient to support Panther Lake shipments, but Intel CFO David Zinsner said in October that they are not yet high enough to deliver normal profit margins, with industry-standard yield results not expected until 2027. It’s understood that Intel doesn’t plan to add significant 18A capacity in 2026 beyond current commitments.
In Barratt, Intel will gain a chair who has publicly committed to scaling U.S. manufacturing, who operates inside a semiconductor ecosystem that depends on foundry diversity, and who has worked inside Intel's own infrastructure business. That’ll obviously matter to potential foundry customers doing long-term planning who need confidence that Intel Foundry will still exist and be resourced in five years.
"The company has taken significant steps to strengthen its financial position, advance its technology and product roadmap, and enhance operational discipline," said Barratt. "The board thanks Frank for his leadership and for helping position Intel for this next phase."
Intel's board will also shrink from 12 to 11 members following the May meeting, as Yeary's seat will not be filled. Given that four new directors with technology operating backgrounds have joined the board since 2024, its overall composition is moving in a consistent direction away from purely financial oversight and towards technical expertise.
Luke James is a freelance writer and journalist.\u00a0 Although his background is in legal, he has a personal interest in all things tech, especially hardware and microelectronics, and anything regulatory.\u00a0 ","collapsible":{"enabled":true,"maxHeight":250,"readMoreText":"Read more","readLessText":"Read less"}}), "https://slice.vanilla.futurecdn.net/13-4-18/js/authorBio.js"); } else { console.error('%c FTE ','background: #9306F9; color: #ffffff','no lazy slice hydration function available'); } Luke James Social Links Navigation Contributor Luke James is a freelance writer and journalist. Although his background is in legal, he has a personal interest in all things tech, especially hardware and microelectronics, and anything regulatory.
Key considerations
- Investor positioning can change fast
- Volatility remains possible near catalysts
- Macro rates and liquidity can dominate flows
Reference reading
- https://www.tomshardware.com/tech-industry/SPONSORED_LINK_URL
- https://www.tomshardware.com/tech-industry/intel-picks-an-engineer-to-chair-its-board#main
- https://www.tomshardware.com
- Intel CEO embraces its 18A node for external customers as 18A-P gets 'inbound interest' — company cites increasing yields
- March Into the Cloud With 15 New Games Coming to GeForce NOW
- Acer's RTX 5070-powered Nitro V16 gaming laptop price cut to $1249.99 — you have 24 hours to make the most of this Best Buy limited-time deal
- AI memory crunch forces DRAM market into 'hourly pricing' model, report claims — small and medium-sized businesses fighting for survival
- Arm's $250 million deal with Malaysia probed by anti-corruption authorities — $1.27 million seized from safehouse of prominent politician, former army chief arr
Informational only. No financial advice. Do your own research.