Well, the premise of the entire article is on questionable grounds. Stratechery had a good write up on a few angles, but there's more: https://stratechery.com/2

Well, the premise of the entire article is on questionable grounds. Stratechery had a good write up on a few angles, but there's more: https://stratechery.com/2021/intel-problems/ https://stratechery.com/2021/intel-problems/ tl;dr on the above link: Willingness to work on mobile chips (We all know how that played out), Server leadership and Manufacturing. There is more than one angle to the "decline" of the semiconductor industry though - The composition of the American companies with the leading technology shifted from heavy on engineering and research to one of . .well, something else. There's plenty of commentary and tribal knowledge available online about walking into Intel HQ for interviews in this day and seeing the culture of sheer incompetence on display. They are a H1-B shop. - While TSMC has invested in R&D, Intel has laid off hundreds in their R&D departments and over the past three years has spent AT LEAST $10 Billion per year on stock buybacks: https://www.intc.com/stock-info/dividends-and-buybacks https://www.intc.com/stock-info/dividends-and-buybacks - Last year, when they were wayy behind on their latest promise to the server market and facing a rising competitor in AMD, guess what they did . . $12 Billion in buybacks. It's a joke. This isn't a question of "Cost cutting" being the focal root cause, that's a symptom. The bigger issue is that companies are good as the intelligence of their decision makers and culture that enables innovation. In Intel today, imo, the intelligence of their key decision makers isn't in their core business and neither do they indicate leaning on people with that expertise from the looks of their public comments. The culture, i'm not going to comment on, there's enough chatter and anecdotes floating around for that.