This year, the market value of Intel Corporation (INTC.US) has shrunk by more than 60%! The struggling Intel Corporation has no choice but to "seek help" from the U.S. government.

Intel Corporation (INTC.US) has recently suffered heavy losses, with its market value shrinking by over 60% this year. The reason is that the company is struggling in the booming artificial intelligence market while also ramping up semiconductor manufacturing in the United States. As a result, the company is seeking help from U.S. Secretary of Commerce Raymond. In a recent meeting with Raymond, Intel Corporation CEO Pat Gelsinger expressed disappointment in the heavy reliance of U.S. businesses on Taiwan Semiconductor Manufacturing Co., Ltd., the world's largest contract chipmaker. According to sources, due to increasing political risks with GEO Group Inc, Raymond subsequently met with several public market investors to emphasize the importance of chip manufacturing in the United States. The goal is to urge shareholders of companies like NVIDIA Corporation and Apple Inc. to recognize the economic benefits of having a U.S. foundry capable of producing artificial intelligence chips. Intel Corporation is currently building factories in four states in the United States, aiming to transition to a foundry business model to manufacture chips for other suppliers. Earlier this year, Intel Corporation received up to $85 billion in funding from the Biden administration's "Chip Act" and may receive an additional $110 billion loan from the legislation passed in 2022. The funds have not been disbursed yet. A senior government official said that allocation is expected by the end of the year. For Intel Corporation, this is an increasingly important move as the company is facing challenges in the microprocessor market. Apart from losing market share to companies like AMD in core PC and data center markets, Intel Corporation has almost no presence in the dominant AI field led by NVIDIA Corporation. Sources revealed that Intel Corporation's foundry efforts have been hindered by delays. Taiwan Semiconductor Manufacturing Co., Ltd. is also facing similar issues in building a fab in Arizona. The U.S. Department of Commerce declined to comment, as did a spokesperson for Intel Corporation. Sources revealed that Intel Corporation's board will hold a meeting this week to discuss the company's restructuring plan, including the potential separation of its design and foundry businesses. Intel Corporation CFO David Zinsner told investors at a meeting last week that the split makes sense. Zinsner said, "What I can predict is that we will further separate these two businesses. It's important for customers to see this split." In last month's earnings report, Intel Corporation reported profits and revenues below analysts' expectations and announced a 15% job cut. Following the release of the report, the stock experienced its worst day in 50 years, dropping to its lowest point in over a decade. Nearly all of NVIDIA Corporation's cutting-edge chips are manufactured by Taiwan Semiconductor Manufacturing Co., Ltd., which is also a major manufacturer for AMD, Apple Inc., Amazon.com, Alphabet Inc., and Broadcom Inc. NVIDIA Corporation CEO Jensen Huang spoke at a Goldman Sachs Group, Inc. communication conference on Wednesday, where he addressed the political risks associated with GEO Group Inc and how the company would respond in special circumstances. Huang told Goldman Sachs Group, Inc. CEO David Solomon, "If we have to transition from one fab to another fab, we have the capability to do that. We won't achieve the same level of performance or cost, but we will be able to provide supply."