SAN FRANCISCO, CA – Intel Corporation’s Chief Financial Officer, David Zinsner, discussed the company’s priorities and future plans at the Morgan Stanley Technology, Media & Telecom Conference on March 6, 2024.

During the conference, Zinsner highlighted Intel’s focus on improving its core business, standing up the foundry business, and addressing the growing market in AI. He mentioned the progress in Intel’s process side, with Intel 4 and Intel 3 on track, as well as advancements in product execution and market share data.

Zinsner also touched on the challenges and progress in standing up the foundry business, highlighting deals with top customers and advancements in packaging solutions. He discussed the nascent AI segment, acknowledging the need to translate pipeline growth into revenue and improve market positioning.

The conversation then shifted to capital spending and cash generation, with Zinsner discussing Intel’s goal of achieving cash flow neutrality for the year. He explained the company’s strategies to manage capital intensity, leverage offsets, and drive working capital improvements to enhance cash flow.

Attendees raised questions about Intel’s outsourcing strategy and commitment to partners like TSMC, as well as inquiries about the company’s approach to foundry services and potential conflicts with its product business. Zinsner addressed concerns about compliance with export regulations and highlighted Intel’s partnerships and efforts to drive revenue from non-leading edge segments.

In conclusion, Zinsner emphasized Intel’s focus on accelerating revenue generation from foundry services, partnering with legacy foundry customers, and driving financial improvement through strategic investments and operational efficiencies. The discussion at the conference provided insights into Intel’s transformation journey and its plans for future growth and profitability.