Hedge fund Third Point is urging Intel to make some big business changes in the face of losing chip supremacy to efforts by Apple, Amazon, Microsoft, and TSMC.
Third Point CEO and founder Daniel Loeb wrote a letter to Intel chairman Omar Ishrak on Tuesday calling for the company to boost its position as a provider of chips for computers and data centers, Reuters reported. Third Point has a nearly $1 billion stake in the chipmaker.
In his letter, Loeb called Intel’s most pressing task its “human capital management issue.” He cited the fact that many Intel chip designers have left the company after being “demoralized by the status quo.”
