That’s a fair point. A comment [0] in a parallel thread points out a third possibility: that Intel believes x86 is on its way out, and they’re attempting to pivot before their only significant revenue source dries up.

I hope for the semiconductor industry’s sake they really are getting 7nm back on track this time, and that this new manufacturing business will be competitive. Perhaps that’s unrealistic to expect given their track record lately, but at least Gelsinger seems to deserve more confidence than Swan.

[0]: https://news.ycombinator.com/item?id=26568598