Pat Gelsinger Says Intel 'Lethally Positioned' for AI Chips; Shares Down 5% Wednesday Pre-Market

According to a CNBC interview, former Intel CEO Pat Gelsinger praised successor Lip-Bu Tan and the chipmaker's foundry strategy, saying Intel is "lethally positioned" to help manufacture more semiconductors to meet growing demand driven by artificial intelligence. "This needs to work and I'm just delighted I got to play a role in that journey," Gelsinger said, reflecting on the foundry strategy he announced in 2021 with an initial five-year timeline.

The U.S. government acquired a 9.9% stake in Intel in August 2025 for $8.9 billion, purchasing 433.3 million shares at $20.47 per share. Intel shares have surged 439% since then. On Wednesday, INTC was down nearly 5% in pre-market trading.