The new strategy for Intel's foundry business would mean offering outside customers a newer generation of technology, two people familiar with the matter told Reuters.

Intel’s new CEO Lip-Bu Tan is planning to reallocate resources to the 14A chipmaking process, aiming for an advantage over TSMC.

Key Takeaways A report new Intel CEO Lip-Bu Tan is considering costly changes to the company's chip manufacturing business rattled shares this week.The stock rallied from a multi-month rangebound trading floor throughout June but has run into selling pressure in early July near the respected 50-week moving average.