Intel Rethinks Near-Term Spending Plans

Samsung, Intel, and Texas Instruments recently announced plans for a new chip factory in the United States.  Other tech companies are also reassessing their workforce and spending. Microsoft said last month that hiring would be delayed. Facebook parent Meta Platforms Inc. braked some hires earlier this month, with Twitter Inc also pursuing tightening of seat belts.

Mr. Zinsner said at the conference, “We’re going to go through some choppiness for sure in the near term as everyone else will as well.” “What we’ve got to do is, kind of, keep our heads down and drive the business, execute to the plan and things will have a good outcome for us.”

Gelsinger and other chips industry insiders predict that semiconductor sales will increase significantly over the next few years as demand for digital products and services continues, with industry revenue doubling to $1 trillion within 10 years.