During his tenure as CEO, Grove transformed the chip company into a giant of Silicon Valley that, during the 1990s, was as important to the PC market as Microsoft. Pat Gelsinger, who has led Intel as CEO since 2021, has enacted a sweeping set of new initiatives to turn the chip company around. Its Gaudi 3 AI chip, unveiled as a rival to offerings from Nvidia and AMD, is expected to generate just $500 million in sales this year. Meanwhile, Alvin Nguyen, senior analyst at Forrester, told Business Insider that this is a big public win for Intel. Gelsinger's second headline announcement was that the company is establishing Intel Foundry as a separate subsidiary within Intel, with its own new operating board and independent directors.

---

Persons: —, Andrew Grove, he'd, Grove, Grove —, Pat Gelsinger, Gordon Moore, Gelsinger, HWA CHENG, Patrick Moorhead, Moorhead, Alvin Nguyen, Forrester, Gelsinger's, It's, Forrester's Nguyen, Bernstein Organizations: Service, Microsoft, Intel, Business, Nvidia, Gaudi, AMD, Revenue, HWA, Getty, Amazon Web Services, Intel Foundry, Reuters Locations: Silicon, Japan, Moore's, AFP, Poland, Germany, Arizona , Oregon, New Mexico, Ohio