I just think a foundry system gets spun out," said Daniel Newman, CEO of The Futurum Group. "For the record, whether it remains Intel foundry or spins out to be TSMC or some other iteration. The U.S. needs a U.S.-owned foundry for leading-edge chips that has full control of its intellectual property." "Looks like (Tan's) visit to the White House was a moment of progress. Could be a good sign for Intel's prospects," Newman added. Tan, who was born in Malaysia and raised in Singapore before attending college in the U.S., succeeded Gelsinger as the struggling chipmaker attempts to gain traction in an AI market dominated by NVIDIA Corp. and other upstarts. Intel has been burning through cash to build a foundry business for chip manufacturing. Since taking over Intel, Tan has told employees that the Silicon Valley giant has scrapped plans for manufacturing sites in Germany and Poland while pausing development of another one in Ohio.