Intel (INTC), once a titan of semiconductor manufacturing, has undergone a series of transformations in recent years. From falling behind rivals such as Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing Company (TSM) to launching an ambitious foundry business,

Intel’s new CEO Lip-Bu Tan is planning to reallocate resources to the 14A chipmaking process, aiming for an advantage over TSMC.

In addition, Intel faces external pressures. Earlier this year, the U.S. government was reportedly pressing hard for Intel to create some kind of joint venture with TSMC, but the Taiwanese chip giant ended months of speculation in April when it explicitly ruled out such a move.