The name Intel has long been associated with microprocessors powering PCs, and more recently has been associated with a struggling semiconductor supplier trying to regain its footing in the AI era.

Thirty years ago, on June 8, 1978, Intel Corp. introduced its first 16-bit microprocessor, the 8086, with a splashy ad heralding “the dawn of a new era.” Overblown? Sure, but also prophetic. While the ...