Intel's head of foundry services resigns, analysts say Intel's next few years will be tough

According to The Register, Randhir Thakur, head of Intel's foundry services, has resigned, and analysts said the company will be "extremely difficult" in the next few years.

Thakur "has decided to resign from his position to pursue opportunities outside the company," Intel said in an email statement. But "he will stay on until the first quarter of 2023 to ensure a smooth transition to a new leader."

Intel spokesman Moss (William Moss) confirmed the news.

"We thank Thakur for the tremendous progress IFS (Foundry Services) has made and the foundation for Intel to become a world-class foundry," Moss said in a statement.

Matthew Ramsay, a semiconductor analyst at Cowen, said that he has a balanced view on Intel's stock. Intel will be difficult in the near future, and the success of the transformation plan is not yet a foregone conclusion. In his view, for Intel, after a difficult 2022, it may be particularly difficult in 2023-2024.

Intel foundry services are part of Kissinger's IDM 2.0 strategy, a plan to double manufacturing by 2025 and surpass TSMC and Samsung in advanced chip manufacturing. According to data, in the third quarter, Intel's foundry services generated only $171 million, accounting for about 1.1% of the company's $15.3 billion in revenue during the same period.