Do we want Intel to fall and bankrupt? Or do we want Intel to survive. I dont think most people are clear what is happening here. This is it. The Margin call moment.

Intel could either transform into Fabless company compete on design, and manufacture with TSMC. Or they continue to be a Foundry player, crucial to US strategic interest. You can only pick one, and competing on just one of them is already a monumental task.

GPU is burning money. With no short term success in sight that could make them cash flow positive in 3 - 4 years time frame. I have been stating this since 2016 and we are now coming close to 2026, recent market share suggest Intel is at less than 1% discrete market share. Especially given the strong roadmap Nvidia has.

This gives a perfect excuse for Intel to quit GPU. Nvidia to provide the cash flow to hopefully continue to develop A18 and A14. Manufacture Nvidia GPU for them, and slowly transition itself out to only x86 + Foundry model. Or even solely manufacture for Nvidia. US administration further force Apple, Qualcomm and Broadcom to use Intel in some capacity. Assuming Intel can keep up with TSMC, which is probably a comparatively easier task than to tackle the GPU market.

I am assuming the Intel board is happy with that direction though. Because so far they have shown they are completely lack of any strategic vision.