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“The core strategy remains intact” was David Zinsner’s message at the UBS Global Technology Conference on December 4, 2024, shortly after Pat Gelsinger left Intel. Zinsner, then Intel’s CFO and interim co-CEO, meant that Intel still aimed to build a leading-edge foundry for outside customers—but that goal depended in part on improving the execution of Intel’s own product business, which was Foundry’s largest customer. The interim leadership arrangement later ended: Lip-Bu Tan became CEO on March 18, 2025.

What did Zinsner mean by “the core strategy remains intact”?

Zinsner was describing a two-part strategy, not saying Intel would focus on foundry alone. He said the board still wanted Intel to become “a world-class foundry” and “the Western provider of leading-edge silicon to customers.” At the same time, he said the board wanted more emphasis on execution in Intel’s product business.

His explanation was that Intel’s product operation was Foundry’s “No. 1 customer.” If Intel’s products did not succeed, the foundry business could be weakened too. In CRN’s account of the December 4, 2024 remarks, Intel Products included Client Computing, Data Center and AI, and Network and Edge; Core and Xeon processors were examples. CRN described the product and foundry operations as separated in operations and finances, with Intel Products purchasing from Intel Foundry. CRN’s report of Zinsner’s remarks

In practical terms, the strategy paired products Intel designs and sells with manufacturing services that Intel hoped to provide to other companies. Product execution and customer demand mattered alongside foundry capacity and customer commitments. Zinsner also said the board had pushed leadership to seek additional returns on Foundry’s invested capital, making that a management priority—not a reported result.

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Did Intel change its foundry strategy after Gelsinger left?

Zinsner’s December 2024 remarks indicate that the board’s stated ambition to build a leading-edge foundry remained in place after Gelsinger’s departure. They also showed an added emphasis on executing well in Intel Products because of its importance as a Foundry customer. That is evidence of what Intel leadership said it intended to do, not proof that the plan delivered customers, returns, or competitive results.

Intel board chair Frank Yeary reinforced the company’s stated direction in a March 12, 2025 letter. Yeary said the board was confident in Intel’s future and wanted to serve customers as both “a world-class products company and as a world-class foundry.” That was the board chair’s view of Intel’s objective, not an independent assessment of performance. Intel’s March 12, 2025 announcement and board letter

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Who leads Intel now, and what priorities has it stated?

Intel appointed Lip-Bu Tan CEO effective March 18, 2025, succeeding interim co-CEOs Zinsner and Michelle Johnston Holthaus. In the announcement, Intel said Zinsner would remain executive vice president and CFO, while Holthaus would remain CEO of Intel Products. The “interim co-CEO” description therefore applies to the period following Gelsinger’s departure, not to Intel’s current leadership arrangement.

In a June 2026 CEO letter, Tan described priorities that continued to encompass both sides of the business: strengthening product roadmaps in client and data-center markets, and pursuing a financially disciplined foundry aligned with demand and customer commitments. Intel’s letter expresses the company’s direction; it does not establish that those plans have succeeded. Intel’s June 2026 CEO letter

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Intel also announced in June 2026 that Seok-Hee Lee would lead advanced packaging and system integration at Intel Foundry, while Naga Chandrasekaran continued to lead front-end technology development and manufacturing. The leadership division describes the company’s organization, not the results of its foundry strategy. Intel’s June 2026 Foundry leadership announcement

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What the statement does—and does not—tell customers

The December 2024 statement is useful for understanding Intel’s intended balance: sell Intel-designed products while building a foundry business for customers beyond Intel, with the product operation itself serving as a major Foundry customer. The later leadership changes and June 2026 statements show that Intel continued to describe both products and foundry as priorities.

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Those announcements do not establish whether Intel has achieved the expected product execution, outside customer adoption, or financial returns. The cited statements are from Intel executives and its board; they are not an independent audit of foundry economics or operating performance.

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