Lip-Bu Tan wants to turn the fortunes of the chip-making behemoth around, and promises a startup-flavored transformation.

Lip Bu-Tan took to the stage at the enterprise-centric Intel Vision 2025 event to share his vision of the company's optimistic future.

Following Intel’s new software first design approach, Intel will leverage “AI-driven system design” to end up with “purpose-built silicon”. This should deliver products tailored for specific applications, potentially increasing Intel’s revenue by expanding its core business model.

At the Intel Vision 2025 event, Intel Chief Commercial Officer Christoph Schell detailed changes the company is making in how it works with partners, some of which he said is causing near-term “pain.”

Intel’s stock is down after Lip-Bu Tan failed to offer quick fixes in a recent speech. But analysts saw positive aspects to his approach in the new role.

Bu Tan, offered his strategy for turning around the troubled chipmaker in a speech late Monday. He wants the company to have a startup mentality, focus on engineering and work more closely with customers.