Overview of Recent Developments
All eyes have been on Intel since the announcement of our Q2 earnings. Amidst a whirlwind of rumors and speculations, clarity is essential. Last week, we held a productive board of directors meeting, addressing key aspects of our strategy and future direction.
Board Meeting Highlights
I am pleased to report that our board, comprising strong independent directors, engaged in deep discussions about our plans and progress toward the goals announced on August 1. We shared a unified vision that emphasizes the urgency required to enhance our profitability and market competitiveness. Three vital takeaways emerged:
Strategic Focus Areas
First, we need to build on our momentum in the foundry sector as we approach the launch of Intel’s 18A technology. Driving greater capital efficiency within this segment will be crucial. Secondly, addressing our cost structure with urgency is paramount; we are committed to achieving the $10 billion savings target introduced last month. Lastly, refocusing on our robust x86 franchise is essential as we advance our AI strategy and streamline our product offerings to benefit Intel customers and partners.
In summary, the insights garnered from last week’s board meeting will guide Intel through its next strategic phase. We are dedicated to staying on course, maintaining accountability, and delivering on our promises. With several key updates on the horizon, we look forward to sharing them with you soon.