Intel, every mention

Complexity Investing & Semiconductors with NZS Capital (Extended Cut) · Acquired Nov 3, 2021 · 18 mentions

• ▶ 25:03 Brinton Johns And, and, you know, he was a consultant for Intel, um, back when, uh, ARM processors were starting to come out and actually dominate the mobile space.
• ▶ 25:18 Brinton Johns Um, but, but even before that, I think they came out with another one and John, I'm blanking on the name of it.
• ▶ 25:28 Brinton Johns I forgot it, but they came down, they came out with a cheaper version of it, but in reality, that's not what they should have done.
• ▶ 25:34 Brinton Johns They should have, you know, actually embraced a totally different business model like arm dead.
• ▶ 1:04:25 John Bathgate And then they, they actually, we, we do think they're taking market share, especially in digital markets, like where they would be selling to an Intel or an Apple or an Nvidia.
• ▶ 1:18:03 John Bathgate I mean, if you're talking about something in, in semiconductors, and I mean, like, Intel's the classic example of this where they're more vertically integrated.
• ▶ 1:18:16 John Bathgate Intel has to fight TSMC on process technology, which, like, in itself is one of the hardest things, you know, any technology companies had to do over the last 20 years, and that's why Intel has been surpassed by TSMC, right?
• ▶ 1:18:26 John Bathgate But they also have to fight AMD, um, in their core, kind of, like, chip design market, where AMD, enabled by TSMC, is, um, innovating, you know, faster than they have in the last 20 years, and, and, like, really delighting customers and,…
• ▶ 1:18:47 John Bathgate So Intel is less relevant.
• ▶ 1:30:33 John Bathgate You can actually split up, um, you know, chips into multiple chips called chiplets, um, which AMD is, is doing, and this is a big part of Intel's future strategy, actually.
• ▶ 1:35:17 John Bathgate Like it used to be just about ASML needed better litho tools and like Intel would use them and like shrink the transistors.
• ▶ 1:37:15 Brinton Johns And so when you think about how Intel was doing this for a long time, it was a closed system.
• ▶ 1:37:19 Brinton Johns It was Intel's way.
• ▶ 1:37:20 Brinton Johns Intel's process flow.
• ▶ 1:44:27 John Bathgate And so I think TSMC and Samsung and Intel kind of looked around and realized like we're betting the future of Moore's law on this one company, ASML, which at the time was like kind of a sleepy Dutch company that would have like a twenty…
• ▶ 1:44:41 John Bathgate Unique is that, um, Intel and TSMC and Samsung partnered and actually bought 25% of ASML to inject capital into ASML to develop EUV systems.
• ▶ 1:45:25 John Bathgate So especially like Intel's enterprise value.
• ▶ 1:46:09 David Rosenthal Could you imagine if the U.S. government owned 20% of Intel?