Intel's CEO Lip-Bu Tan faces a challenging task ahead as he aims to revitalize struggling Intel, which lags in the AI race and loses market share in its PC business to competitors. The company's shares have plummeted by 50% over the past year due to declining revenue and a burdensome foundry business.

Despite the setbacks, Tan remains optimistic and determined to restore Intel's former success. In his recent public address, he acknowledged the need to enhance innovation and responsiveness to meet customers' expectations, emphasizing the company's commitment to improvement.

Tan takes responsibility for Intel's shortcomings and pledges to assemble skilled teams to rectify past mistakes and regain customers' trust. His focus includes attracting top talent to drive innovation, strengthen the balance sheet, streamline operations, and nurture existing talent while bringing new expertise onboard.

Intel is grappling with various challenges, including a lack of innovation, failure to capitalize on trends like AI, and delays in chip technology development. Tan's strategic initiatives aim to address these issues and position Intel as a leading player in the chip industry once again.