investing.com 29 Dec, 2020 19:45 am

Hedge fund Third Point urges Intel to explore deal options By Reuters

Exclusive: Hedge fund Third Point urges Intel to explore deal options

Third Point Chief Executive Daniel Loeb wrote to Intel Chairman Omar Ishrak calling for immediate action to boost the company's position as a major provider of processor chips for PCs and data centers.Intel's most urgent task was addressing its "human capital management issue," as many of its talented chip designers have fled, "demoralized by the status quo," Loeb wrote in the letter.Intel has lost its pole position in microprocessor manufacturing to Taiwan Semiconductor Manufacturing Co and South Korea's Samsung Electronics (OTC: SSNLF ) Co Ltd, Loeb wrote in the letter.to rely more heavily on a geopolitically unstable East Asia to power everything from PCs to data centers to critical infrastructure and more," Loeb wrote.

com Inc (NASDAQ: AMZN ), are developing their own in-house silicon solutions and sending those designs to be manufactured in East Asia, Loeb wrote.The Intel logo is shown at E3, the world's largest video game industry convention in Los Angeles By Svea Herbst-Bayliss and Stephen Nellis (Reuters) - Activist hedge fund Third Point (NYSE: TPRE ) LLC is pushing Intel Corp (NASDAQ: INTC ) to explore strategic alternatives, including whether it should keep chip design and production under one roof, according to a letter it sent to the company's chairman on Tuesday that was reviewed by Reuters.

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