Intel

“TSMC basically took the many, this idea of outsourcing manufacturing assets that Intel did with TSMC in the beginning, Created that business and moved most of our high technology and chips off and offshore into Taiwan. This is like a terrible idea.”

“I think actually it's going to require industrial policy to force people like Intel, AMD to want to bring stuff back into the U.S., and to really get great talent to want to do it.”

“Intel in twenty-twenty approved a share purchase plan where these guys had a hold of a hundred and ten billion dollars and have spent all of it except for 7.2 billion. They have six billion left on the balance sheet.”

“The rational capitalist decision is to offshore manufacturing for Intel. Yes. It is irrational for them from a business perspective, from a board perspective, from a fiduciary perspective, To onshore manufacturing.”

“We asked Pat Gelsinger, who was asked to leave in Intel. And I said, is it, was it the permitting reform? And he said, no, it's that the capital expenditures to make Wall Street's numbers were, was very high and there was no, no procurement.”

“I think Intel really missed. It's a complete abdication of corporate governance at the board level and the CO levels.”

“Well, what's really interesting is that in the last five years, the market cap's grown by eight X, Nvidia's grown by 20 X, but, you know, Intel over the last five years is what, down 70%?”

“That was the genesis of starting to pivot to ARM in a very big way inside NVIDIA, because at that time, Jensen looked at what was going on with SoCs and ARM-based architecture and moved everybody on to the SoC program.”

“Once you fall behind in chips, it's very, very difficult to catch up because the cycle gets on top of you. TSMC now has the best fabs in the world. The leading edge companies, Apple, Nvidia, AMD, they all build a TSMC. TSMC gets better at what they're building…”

“Share changed when cell phone compute emerged, and Intel and AMD who had fabs and the best architects got zero share, and it all moved to ARM.”

“Fundamentally this is a technology business and you need technologists running technology”

“It hadn't built a new factory in a decade when I got there.”

“And I remember that Steve said, I've been working on that the last four releases. He had been preparing the core technologies inside of Apple For something that might happen in the future, you know, and he was already, you know, to me, I just remember, I was j…”

“In my first departure from Intel, the project was killed a week after I left. And the world would have been so much different.”

“In the five years five, six years before I came back, you know, Intel gave a hundred billion dollars to shareholders.”

“Five to one, and now it's more like seven to one in terms of wafers, you know, to TSMC to Intel.”