Together, we will work hard to restore Intel’s position as a world-class products company, establish ourselves as a world-class foundry and delight our customers like never before,” Tan said in a letter to Intel employees on Wednesday.

Intel on Wednesday named former board member and chip industry veteran Lip-Bu Tan as its CEO and signaled the struggling but storied chipmaker was unlikely to split up its chip-design and manufacturing operations.

Intel's new CEO, Lip-Bu Tan, proposes major changes in manufacturing and AI strategies to revitalize the company, which has faced significant losses. He plans to restructure Intel, focus on customer satisfaction,

Intel's incoming CEO Lip-Bu Tan has considered significant changes to its chip manufacturing methods and artificial intelligence strategies ahead of his return to the company on Tuesday, two people familiar with Tan's thinking told Reuters,

Intel's (NASDAQ:INTC) incoming CEO Lip-Bu Tan is thinking of carrying out key changes to the company's chip manufacturing methods and AI strategies ahead of his return to the company on Tuesday, Reuters reported,