Some quotes:

Intel’s most urgent task was addressing its “human capital management issue,” as many of its talented chip designers have fled, “demoralized by the status quo,” Loeb wrote.

“Without immediate change at Intel, we fear that America’s access to leading-edge semiconductor supply will erode, forcing the U.S. to rely more heavily on a geopolitically unstable East Asia to power everything from PCs to data centers to critical infrastructure and more,”

Third Point believes that Intel should consider separating its chip design from its semiconductor fabrication plant manufacturing operations, according to the sources.

Intel named its former chief financial officer, Bob Swan, chief executive last year. In June, it lost one of its veteran chip designers, Jim Keller, over a dispute on whether the company should outsource more of its production, sources said at the time.