Engineering Decay at Legacy Chipmakers

A revived Intel CEO (Pat Gelsinger) says the company lost basic engineering disciplines during prior years — 'not a single product was delivered on schedule' — and that boards and governance failed to maintain semiconductor craft. Delays in disbursing Chips Act money compound the problem by starving turnaround plans of capital and undermining public‑private efforts to rebuild domestic manufacturing. — If true across incumbents, loss of core engineering capacity at legacy foundries threatens supply‑chain resilience, raises national‑security risk, and shows industrial policy succeeds only when funding, governance, and operational capability align.