Pat's strategy was always to make Intel fabless but first he had to bankrupt it otherwise the BOD would not allow it. Now they have to do it to survive.
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You got him.
Intel will be split - He will become the CEO for the fabs/foundry company and run it to the ground. He has experience doing this (e.g. Larabee)
Pat doesn't want to make Intel fabless. He wants to make Intel product-less and turn it into a fab.