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Intel’s Ambitions To Compete With Taiwan Semiconductor, Samsung Suffers Jolt After Losing Foundry Head

Intel Corp (NASDAQ:INTC) executive Randhir Thakur, who headed its push into the contract-manufacturing industry, is leaving the chipmaker, jeopardizing CEO…
byAnusuya Lahiri
November 22, 2022
1 minute read
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  • Intel Corp (NASDAQ:INTC) executive Randhir Thakur, who headed its push into the contract-manufacturing industry, is leaving the chipmaker, jeopardizing CEO Pat Gelsinger’s turnaround plan.
  • Thakur “has decided to step down from his position to pursue opportunities outside the company,” Bloomberg reported citing an emailed statement. 
  • “He will stay on through the first quarter of 2023 to ensure a smooth transition to a new leader.”
  • Also Read: US $52B Chip Funding For Intel, TSMC, Samsung Will Cost Them China Ambitions: Report
  • After losing its role as the leader of the $580 billion chip industry, Intel has set out to become a so-called foundry, an area dominated by Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM) and Samsung Electronics Co, Ltd (OTC: SSNLF). 
  • Thakur had sought to get Intel on that same track. 
  • The effort has included plans to build new plants in the U.S. and Europe to win chipmaking contracts from companies like Apple Inc (NASDAQ:AAPL) and Qualcomm Inc (NASDAQ:QCOM). 
  • Thakur will stay on until Intel completes its acquisition of Tower Semiconductor Ltd (NASDAQ:TSEM).
  • Price Action: INTC shares traded higher by 1.21% at $29.29 on the last check Tuesday.
 
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California Weed Co. Wraps Up Strategic Reorganization, This Is Unrivaled’s New Name

By Jelena Martinovic
January 16, 7:16 PM
California cannabis company Unrivaled Brands has completed its strategic reorganisation and reversed stock split. Under the reorganisation deal, Blum Holdings is now Unrivaled Brands' parent company, and each share of its common stock has automatically converted into equivalent shares of Blüm's common stock. As part of the restructuring, Blüm's common stock will trade on the OTCQB tier of the market under the "BLMH" ticker symbol. Directors and officers of Unrivaled Brands prior to the reorganisation will serve as the directors and officers of Blüm. This milestone is part of Unrivaled Brands' growth and development strategy. In Q3 2021, the company saw an 11.4% YoY drop in revenue to $8.6m, but managed to limit its net loss to $3.4m, compared to a $119.9m net loss in the previous year.

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