Intel CEO: ‘hope to be manufacturing most advanced AI chips’ in 2025

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on Mar 20, 2024
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  • Intel received up to $8.5 billion grant under Chips and Science Act today.
  • Here's what CEO Patrick Gelsinger said in an interview with CNBC.
  • $INTC has gained close to 50% over the past twelve months.

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Intel Corp (NASDAQ: INTC) “hopes to be manufacturing the most advanced AI chips” in 2025, says Patrick Gelsinger – chief executive of the semiconductor giant.

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Highlights of Intel CEO interview with CNBC

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Gelsinger made that comment in an interview with CNBC after receiving up to $8.5 billion grant under the Chips and Science Act on Wednesday.

$INTC could receive another $11 billion in loan from the White House to set up fab manufacturing facilities in the United States as well. According to CEO Pat Gelsinger:

This brings us back to leadership manufacturing for some of our key products – will be key for our foundry business as well.

He also confirmed that Intel will soon update on its recently announced gaudi 3 artificial intelligence accelerator. $INTC is slightly in the green at writing.

Intel remains committed to five nodes in four years

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CEO Patrick Gelsinger also confirmed in his interview with CNBC today that “five nodes in four years” commitment remains on track.

Intel Corp remains devoted to the “sub 2 nanometres” to make chips “faster, smaller, cheaper” and make them more capable in terms of performance as well, he added.

The news arrives more than a month after Intel reported its financial results for the fourth quarter that topped Street estimates but issues downbeat guidance for the future (find out more).

Intel stock is down more than 15% versus its high in late December.

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