Intel's incoming CEO Lip-Bu Tan has considered significant changes to its chip manufacturing methods and artificial intelligence strategies ahead of his return to the company on Tuesday, two people familiar with Tan's thinking told Reuters, in a sweeping bid to revive the ailing technology giant. Ciara Lee reports.

Lip-Bu Tan will purchase about $25 million in stock shortly after taking over as CEO, giving him immediate financial alignment with the moves he makes at Intel.

Lip-Bu Tan, who takes over as Intel CEO on Tuesday, is planning to overhaul the struggling chipmaker’s manufacturing business, while also adjusting its “approach to AI and staff cuts,” according to a report from Reuters.