Intel’s former board members have a bold prescription for the company’s future: go private. In the wake of the unexpected partnership with NVIDIA, they argue that removing Intel from the pressures of public markets could unlock the focus, capital, and talent needed to reboot its strategy—and deliver massive benefits to the United States by 2028.
In an opinion piece, former Intel directors Charlene Barshefsky, Reed Hundt, and James Plummer suggest the company’s best path forward is a US-led consortium buying out all publicly traded shares. Their rationale is straightforward: free Intel from quarterly earnings pressure so it can prioritize building competitive products, reorganize around its strengths, and move decisively in fast-moving sectors like AI.
What they’re proposing goes beyond a simple ownership change. They advocate separating Intel’s design and manufacturing operations, spinning a dedicated foundry business out of Intel’s existing fabrication assets. According to their view, a strong, US-based foundry—independent from Intel’s chip design units—would be a strategic win for American industry and government, while also giving major chip designers an alternative to heavy reliance on TSMC.
They also argue that going private would help Intel win the war for AI talent. Private ownership, they say, enables more flexible compensation and aggressive hiring, which could counter Intel’s recent talent drain and accelerate progress in AI and other emerging technologies. The former directors even forecast that, if executed well, the move could generate hundreds of billions of dollars in value for US taxpayers by 2028 while reinforcing national security.
Why this idea is gaining attention:
– The NVIDIA partnership jolted market expectations and signaled new momentum for Intel.
– A design–foundry split could clarify strategy and attract external customers to an independent Intel Foundry.
– Private ownership could let Intel prioritize long-term product leadership over short-term financial targets.
– Stronger domestic chip manufacturing aligns with supply-chain resilience and national interests.
There are significant hurdles. Taking a company of Intel’s size private is complex and costly, requiring buy-in from shareholders and substantial financing. Untangling design and manufacturing would be a major operational undertaking. And any restructuring would need to avoid disrupting existing customers, partners, and roadmaps.
Still, the core message is hard to ignore: Intel needs a fundamentally different playbook to escape its current financial and competitive challenges. With the NVIDIA deal as a catalyst, the former board members see a rare window to reset the company, rebuild its edge in manufacturing and AI, and position it as the backbone of a more resilient US semiconductor ecosystem.
Whether Intel embraces a go-private strategy or pursues another path, the takeaway is clear—the time for incremental fixes is over. The company’s next moves could reshape not just its own future, but the balance of power across the global chip industry.
