Lip-Bu Tan

Intel CEO Lip-Bu Tan said Intel would continue its involvement in Terafab. Bloomberg reported the statement before an Intel event in Tokyo.

Intel priced an underwritten public offering of 210,526,315 shares at US$95 each, raising US$20 billion after upsizing the deal from the US$15 billion announced two days earlier. The price is more than four times the US$20.47 the U.S. government paid per share in August 2025.

Second-quarter 2026 results showed Intel Foundry segment revenue of US$5.8 billion, up 31 percent from a year earlier, against total company revenue of US$16.1 billion. Segment revenue includes wafers made for Intel's own product groups, so the figure measures foundry activity rather than external customer sales.

Nvidia agreed to buy $5 billion of Intel common stock at $23.28 a share and to co-develop custom x86 CPUs linked to Nvidia GPUs over NVLink for data centers and PCs, a month after the US government took its own 10 percent stake in Intel. The same day CNBC reported the Enfabrica acquihire.

Nvidia agreed to buy US$5 billion of Intel stock at US$23.28 a share. Intel will build Nvidia-custom x86 CPUs for Nvidia's data center platforms and x86 system-on-chips with Nvidia RTX GPU chiplets for PCs, connected with NVLink.

Intel agreed to sell the U.S. government 433.3 million new shares at US$20.47 each, a 9.9 percent stake, paid for with US$5.7 billion of CHIPS Act grants that had been awarded but not disbursed and US$3.2 billion from the Secure Enclave program. The stake is passive, with no board seat.

In its second-quarter report new CEO Lip-Bu Tan said Intel had mostly completed a 15 percent workforce cut and would end 2025 with about 75,000 core employees, down from 108,900 across the group at the end of 2024, as it cancelled fabs in Germany and Poland and slowed Ohio. It was the largest cut by share of staff among big tech companies in 2025 and followed 15,000 cuts announced in August 2024.

With second-quarter 2025 results Intel said it would no longer proceed with the planned fabs in Germany and Poland and would slow construction in Ohio to match demand. Its quarterly filing added that without a significant external customer for 14A it might pause or discontinue that node and successor nodes.

Intel Foundry said it had engaged lead customers on its Intel 14A process technology. Intel described 14A as the successor to Intel 18A.

Intel's board appointed Lip-Bu Tan, former CEO of Cadence Design Systems, as chief executive effective March 18, 2025, succeeding the interim co-CEOs.