Intel CEO Pat Gelsinger announced “IDM 2.0” in March 2021. In the new strategy, building world-class Intel Foundry Services (IFS) is an important part of it. For this reason, Intel also acquired Tower Semiconductor, an Israeli semiconductor manufacturer, at a cash price of $53 per share, with a total price of about $5.4 billion, in order to expand production capacity and foundry scope in a short period of time.
While Intel is ambitious, its foundry services program appears to be progressing slowly over the past year or so. According to The Register, Randhir Thakur, president of Intel Foundry Services, has resigned, but will not leave until the first quarter of 2023 to ensure a smooth transition with the new leader.
Pat Gelsinger sent an email to company employees thanking Randhir Thakur for his contribution to Intel
Foundry Services, which played an important role in the IDM 2.0 strategy. In addition to being responsible for the acquisition of Tower Semiconductor, Randhir Thakur also played an important role in the cooperation with chip manufacturers such as MediaTek. Intel also won a contract from the U.S. Department of Defense’s “Rapid Assurance Microelectronics Prototype-Commercial Project (RAMP-C)” program.
“Since Q2, IFS has expanded engagements to seven of the 10 largest foundry customers coupled with consistent pipeline growth to include 35 customer test chips,
” Gelsinger said. “This is tremendous progress in only 20 months!
In the third quarter of 2022, the revenue of Intel’s foundry service department was $171 million, accounting for only 1.1% of Intel’s quarterly revenue, which does not seem to be a large proportion.