Bloomberg takes a deep dive into how Intel’s new CEO Lip-Bu Tan is attempting to rescue the company from its long-standing issues. Over the past year, Intel’s stock has risen an impressive 490%, with Wall Street seemingly optimistic about a turnaround that may be more wishful than substantive.

Tan, who took over in March last year, has been busy building relationships rather than restructuring. He secured a sweetheart deal with the U.S. government, forming partnerships with Elon Musk and reportedly securing preliminary manufacturing deals with both Apple and Tesla. These moves are seen as key to Intel’s future success.

However, the company still faces significant challenges. Intel’s chip yields lag behind industry leaders such as TSMC, and some employees report that Tan has been light on specific internal details, leading teams to adjust missed deadlines instead of recovering from them.

The question remains: will this high-level vision translate into concrete results? Only time will tell if these partnerships and government support are enough to propel Intel back to the top.