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Intel CEO Pat Gelsinger said the company is talking to 100 potential customers for its Intel Foundry Services (IFS), where the company uses its factories to make chips for others.
He said the company would have more to say about IFS customers on Monday. Gelsinger joined as CEO earlier this year and is committed to Intel regaining its leadership in manufacturing. On top of that, he said Intel will invest in its foundry business, where it serves as a subcontractor to companies that design their own chips.
Intel is rumored to be telling GlobalFoundries about the $ 30 billion acquisition of the foundry company. Gelsinger declined to comment on this.
“At this point, we wouldn’t say mergers and acquisitions are essential, but neither would we rule out,” he said.
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Gelsinger made the comments as part of the company’s second quarter earnings conference call with analysts. Intel reported better-than-expected second quarter earnings and revenue and increased its estimates for 2021 revenue and earnings. Just about every chip company is now expanding to meet this demand, and Intel recently announced that he would spend $ 20 billion on new manufacturing in Arizona.
Gelsinger said this is the most exciting time to be in the semiconductor industry, as demand is at record levels. He said that Intel has shipped over 50 million Tiger Lake processors, is developing its Ice Lake chips, and is completing the design of its Meteor Lake chips.
“While there is still work to be done, we are moving at a breakneck pace,” said Gelsinger.
On Monday, he said Intel would talk about its plans to resume leadership in processor design (from rival Advanced Micro Devices). Intel expects capital spending to be between $ 19 billion and $ 20 billion this year. It is retiring from its Apple and domestic gateway activities. Intel, meanwhile, needs more manufacturing capacity for its own chips.
“The world needs more semiconductors,” Gelsinger said. “The world needs a more balanced semiconductor supply chain.”
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