The FT’s Chris Nuttall interviewed Paul Otellini, chief executive of Intel, at the company’s headquarters in Santa Clara, California. Mr Otellini spoke about his 33-year career with the world’s largest chipmaker and the challenges the company faces as it tries to find new growth areas. Here is an edited transcript of his remarks.

FT: Originally, you had a choice after business school of either Intel or Advanced Micro Devices, which is kind of ironic now you are such rivals?