Yes, the USA NEEDS INTEL, as Intel is the only American company…, says former Intel CEO Craig Barrett
Former
Intel
CEO
Craig Barrett
has outlined an urgent $40 billion rescue plan for the struggling chipmaker, arguing that America's
semiconductor
independence depends on immediate customer investment as the company faces mounting pressure over its current leadership's China ties.
"Yes, the USA NEEDS INTEL, as Intel is the only US company capable of providing state of the art logic manufacturing,"
Barrett
wrote in an exclusive Fortune commentary published Monday. "Neither Samsung or TSMC plan to bring their state of the art manufacturing to the US in the near term."
Barrett's intervention comes as President Trump demands current CEO Lip-Bu
Tan
's resignation over alleged conflicts of interest with Chinese companies, while four former Intel board members call for splitting the company in two.
Cash-rich customers must fund Intel's semiconductor revival
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Undo
Barrett proposes that eight major Intel customers – including
Nvidia
,
Apple
, and
– each invest $5 billion to secure America's chip manufacturing future. "Intel is cash poor and can't afford to invest in the capacity needed in the future to replace TSMC or even a reasonable fraction of TSMC capacity," he stated in the Fortune piece.
The former CEO dismissed current leadership's cautious approach to new technology investment. "The current Intel CEO's comments about not investing in new technology (14A) until customers sign up is a joke," Barrett wrote. "To win in this space you need to be the leader in technology not the follower."
Barrett argued that major tech companies should invest for "domestic supply, second source, national security, leverage in negotiating with TSMC" benefits, suggesting the government could catalyze action with tariffs on advanced semiconductor imports.
Trump administration could impose chip import tariffs
The rescue plan envisions presidential intervention through trade policy. "IF THE USG GETS ITS ACT TOGETHER, they catalyze the action with a 50% (or whatever number Trump picks) tariff on state of the art semi imports," Barrett wrote, comparing potential semiconductor protection to existing steel and aluminum tariffs.
Barrett criticised calls from "four former wise board members" to split Intel before allowing customer investment, calling such restructuring an unnecessary complication. "Be serious. There are many company interactions that involve both supply and competition," he argued in the Fortune commentary.
His proposed timeline is aggressive: "POTUS and DoC can set the stage, the customers can make the necessary investments, the Intel Board can finally do something positive for the company, and we stop writing opinion pieces on the topic."
In a surprising development, President Trump appears to have softened his stance on Intel's current leadership. After initially demanding CEO Lip-Bu Tan's "immediate" resignation over alleged China conflicts, Trump posted Monday that his
White House
meeting with Tan was "very interesting" and called the executive's career "an amazing story." The president announced that Tan and cabinet members would continue discussions next week, suggesting a more collaborative approach to addressing Intel's challenges.
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