Intel Corp’s incoming Chief Executive Pat Gelsinger said the semiconductor behemoth would outsource more chip production, as it posted pandemic-powered full-year results that also underscored the breadth of challenges the new CEO will face.Mr. Gelsinger on Thursday stated that Intel would have other chip companies produce more of its products, even if the chunk of its new chips in the coming years would be made in house.The shift marks a break from Intel’s traditional reliance on its own factories to produce its most-advanced chips-effectively recognizing that it has fallen behind chip-making rivals.The report for 2020 caps a challenging yet lucrative year for the semiconductor behemoth that saw it surpassed in market valuation by rival Nvidia Corp., dropped by Apple Inc. as a supplier for Mac chips, suffer market-share losses and face a push by activist investor Third Point LLC for strategic changes. The pandemic has helped Intel paper some of its challenges. Demand for PCs and the chips that go into them hasn’t been this hot in years.