Intel CEO Pat Gelsinger “p—ed” off at what he calls perma-bears.

Intel Corp. Chief Executive Officer Pat Gelsinger, who took the job in February 2021, gives himself an A- grade for his first year running the chipmaker.

In a Bloomberg Television interview, Gelsinger acknowledged that Intel’s comeback won’t happen overnight but slammed Wall Street analysts for sticking to a negative view. The executive said he’s “p—ed” off at what he calls perma-bears. But Gelsinger believes that others are getting excited about the company restoring its prowess and creating “the new old Intel.”

“In some regards, we’re ahead of where I thought we’d be; in some areas, we’re not as far as I thought we’d be,” Gelsinger told Emily Chang in a “Bloomberg Studio 1.0” conversation airing Wednesday night. “And it really is more a statement of the massive challenge in front of us.”

Within a few weeks of rejoining the company, Gelsinger outlined an aggressive strategy aimed at reclaiming the manufacturing leadership that his predecessors had allowed to slip. He followed that up with his plans to rebuild production in the U.S. and Europe, aiming to counterbalance a shift of manufacturing to Asia. He’s also lobbied for billions of dollars in government support.


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