Intel has signaled it is willing to work with Third Point hedge fund to improve its business.

As we reported earlier today, Third Point’s CEO sent a letter to Intel’s chairman urging changes as the chipmaker lags behind rivals.

“Without immediate change at Intel, we fear that America’s access to leading-edge semiconductor supply will erode, forcing the U.S. to rely more heavily on a geopolitically unstable East Asia to power everything from PCs to data centers to critical infrastructure and more,” CEO Daniel Loeb wrote.

According to International Business Times, It appears Intel is open to discussion with Third Point in an effort to make changes.

“Intel Corporation welcomes input from all investors regarding enhanced shareholder value,” the California tech giant said. “In that spirit, we look forward to engaging with Third Point LLC on their ideas towards that goal.”