[shaism]

I am not sure. While Intel still has a dominant market share in personal compute, it’s data center market share has been shrinking for years and Intel doesn’t have a convincing story why that would change.

The main issue I see for Intel is that they are trying to catch up in multiple areas at the same time against more specialized companies with more resources, and fend of new architectures like ARM.

Look at the segments:

- Foundry: TSMC is way ahead, has the right culture and is better capitalized. Even Samsung is ahead.

- CPU Architecture: Compete with AMD on the x86 side and with Apple, Google and the likes with ARM architectures.

- GPU: Compete against NVIDIA and AMD.

- AI/NPU: Compete with NVIDIA, AMD, Qualcomm,…

All those companies were smaller than Intel in the past, and Intel couldn’t keep their advantage. Now, those companies are ahead and in a better overall position.

Nothing is impossible but I can certainly see why investors are skeptical, especially given Intel‘s track record in the past few years.