The new CEO is refusing to spend more until it has a clear pipeline of revenue.

Intel 's ( INTC 1.11% ) new CEO isn't wasting any time in making the changes he thinks are necessary to turn things around at the one-time leader in semiconductor technology. Intel reported its second-quarter earnings results in late July, but Lip-Bu Tan's public memo, published at the same time as the release, drew most of the attention of investors.

The CEO, who took over the position in March, laid out several strategic initiatives designed to turn around Intel's financial position. And considering Intel's importance in the semiconductor industry , they have the potential to reverberate across multiple companies.

In fact, it's great news for one of the most dominant forces in the industry, while

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