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pww.comIntel Corporation - Special Call - NasdaqGS:INTC

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Patrick P. Gelsinger [CEO & Director] đź’¬

Patrick P. Gelsinger, CEO and Director of Intel Corporation, made a series of statements during the Special Call on February 21, 2024. Here is a detailed summary of his remarks:

  1. Welcome and Introduction

    • Welcomed attendees to Direct Connect 2024.
    • Noted his three-year anniversary as CEO of Intel.
    • Highlighted three goals for Intel: rebuilding the company, restoring its critical role in the technology industry, and rebuilding Western manufacturing.

  2. Intel Unleashed Event

    • Mentioned the Intel Unleashed event held shortly after his return as CEO in 2021.
    • Shared the vision for Intel to become a world-class foundry and a major provider of U.S. and European-based capacity.
    • Addressed skepticism regarding Intel’s ability to achieve these goals.

  3. Announcement of Intel Foundry

    • Announced the renaming and reorganization of Intel’s foundry business as “Intel Foundry.”
    • Explained that Intel Foundry encompasses technology development, global manufacturing and supply chain, and Intel Foundry Services and ecosystem operations.
    • Described the creation of two separate organizations: Intel Foundry and Intel Products (client, data center, and networking products).

  4. AI and Computing Industry

    • Discussed the transformation of computing due to AI, describing the end of a "boring" era.
    • Emphasized Intel’s engagement in 100% of the AI total addressable market (TAM) through its products and foundry services.

  5. Intel Foundry Strategy

    • Announced the concept of a “systems foundry” for the AI era, focusing on world-class foundry capabilities.
    • Highlighted the importance of Moore’s Law, stating it is alive and well, and Intel’s advancements in transistor technology, power delivery, and lithography.

  6. Capacity and Resilience

    • Mentioned the need for globally resilient, sustainable, and trusted supply chains.
    • Introduced the advisory board that helped guide the setup of Intel Foundry.

  7. Sustainability

    • Discussed Intel’s commitment to sustainability, including renewable energy usage and responsible chemical use.

  8. Global Politics and Semiconductor Supply Chains

    • Addressed the geopolitical significance of semiconductors and the need for diversified supply chains.
    • Mentioned the U.S. CHIPS Act and the importance of rebuilding global supply chains.

  9. Visit from Gina Raimondo

    • Introduced Gina Raimondo, U.S. Secretary of Commerce, who discussed the significance of the CHIPS Act and the importance of making more chips in the U.S.

  10. AI Surge and Future Opportunities

    • Discussed the surge in AI and the opportunities it presents for Intel Foundry Services.
    • Mentioned the expected lifetime deal value of over $15 billion in the foundry customer business.

  11. Closing Remarks

    • Concluded by introducing Stuart C. Pann, the leader of Intel Foundry Services, to continue the discussion.

Throughout his presentation, Patrick P. Gelsinger emphasized Intel’s commitment to innovation, resilience, sustainability, and leadership in the semiconductor industry, particularly in the context of the AI era.

Stuart C. Pann [Former Senior VP, GM of Intel Foundry & GM of Corporate Planning Group] đź’¬

Stuart C. Pann, the Former Senior VP and General Manager of Intel Foundry and Corporate Planning Group at Intel Corporation, discussed various aspects related to Intel’s foundry services and strategies during the special call on February 21, 2024. Below are the detailed points covered by Stuart C. Pann:

Opening Remarks

  • Acknowledged the audience and expressed gratitude for their presence.
  • Emphasized the importance of the people at Intel, highlighting the momentum and enthusiasm among employees.
  • Referenced Chris Miller's book, "Chip War," and quoted Miller describing Intel as "the most important company over the last 50 years."
  • Shared personal perspective on being associated with Intel for 43 years and returning to Intel because of belief in the company's potential.

Foundry Model and Evolution

  • Discussed Gordon Moore's original paper on cramming more components onto integrated circuits and the relevance of economics in driving strong economics.
  • Explained the necessity of systems thinking in the era of AI, emphasizing the need to break up monolithic devices due to thermal profiles, costs, and flexibility.
  • Highlighted Intel's history in systems thinking, from multi-bus and PCI Express to Centrino and the AI systems foundry.
  • Differentiated Intel's approach from the traditional foundry model, noting Intel's involvement in research and development, wafer fabrication, advanced packaging, and more.
  • Described the concept of systems technology co-optimization, involving application workloads, software, system architecture, memory interconnect, advanced packaging technology, and core optimization.
  • Mentioned the need for standards everywhere from chips inside to chips outside to foster innovation and meet the demands of AI.

Foundry Strategy

  • Outlined the three-layered strategy:
    1. World-Class Foundry: Focus on performance, power, area, and cost.
    2. Ecosystem: Collaboration with EDA vendors, IP vendors, and design services.
    3. Resilient, Sustainable Supply: Capability around the world to build in a sustainable fashion.
  • Introduced the concept of systems of chips, putting systems inside a chip and working with foundry partners to create systems of chips.

Resilient and Sustainable Supply

  • Acknowledged Pat Gelsinger's and Gina Raimondo's comments on resilient and sustainable supply chains.
  • Highlighted the importance of security, especially for military and aerospace customers, ensuring trusted and secure environments.

System-on-Chip (SoC) and Packaging Technology

  • Discussed the evolution towards disaggregated designs due to reticle limitations, thermal constraints, and cost constraints.
  • Mentioned the Ponte Vecchio (Intel Data Center GPU MAX Series) as an example of a complex SoC with dozens of chiplet tiles, multiple suppliers, and coexistence with TSMC in the same package.
  • Emphasized the need for standards in chip-to-chip connectivity, introducing the UCIA standard.

Future Innovations

  • Outlined a roadmap for the next five years, focusing on substrates, cooling, memory, interconnects, networking, and software.
  • Announced a partnership with ARM to merge business initiatives, offering design capability and design education to ARM customers.
  • Highlighted the importance of university partnerships, specifically mentioning the University of Michigan and Berkeley, to provide students with access to 18A technology.

Partner Engagement

  • Conducted a fireside chat with Eric Fisher (President of MediaTek North America) and Yuan Xing Lee (Vice President, Central Engineering for Broadcom), discussing their experiences with Intel Foundry Services.
  • Addressed topics such as supply chain diversification, resiliency, global footprint, and partnership capabilities.

Closing Remarks

  • Reiterated the strong foundation of technology and innovation at Intel.
  • Emphasized the importance of people in driving the company forward.
  • Concluded with a video showcasing the use of generative AI, encouraging attendees to unleash their imaginations with AI.

Throughout his presentation, Stuart C. Pann provided a comprehensive overview of Intel's foundry services, emphasizing the company's commitment to innovation, sustainability, and partnership.

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