The Bloomberg podcast “Odd Lots” recently had a long discussion about the state of Intel.

The US is in the midst of a big effort to bring more semiconductor manufacturing onshore. Intel is the biggest US semiconductor manufacturer. There’s just one problem. Intel has really been struggling to get its fab operations up and running in a timely, efficient manner. So what’s the problem, and can the company turn things around?

The CEO has done a good and consistent job communicating that Intel is *rebuilding*. The question is how long they can sustain that position financially and with shareholders. Intel of course also has the U.S. government as a potential backstop if things go really wrong. That’s after the CHIPS act and other strategic reshoring efforts. It’s possible that TSMC and others will fill that domestic U.S.  role in the future.

Though not all of the insights here may prove correct, the conversation raises many thought-provoking questions.

Listen to the episode here!