Are Intel’s problems too big to fix?
1 month, 1 week ago

Are Intel’s problems too big to fix?

Live Mint  

Pat Gelsinger’s quest to save Intel has come to an abrupt end. Much rides on their success as 18A is the final phase of Gelsinger’s plan to have Intel race though five so-called “nodes" in four years. “As the standard-bearer for the company’s ‘five nodes in four years’ guiding mantra, Mr. Gelsinger’s sudden departure leaves us unsure of the strategic path ahead for Intel," wrote Joshua Buchalter of TD Cowen in a note to clients on Monday. Intel’s foundry business, which handles manufacturing for external clients, has lost more than $11 billion in the first nine months of 2024—nearly double what it lost in the same period last year. Some think Gelsinger’s exit raises the possibility of some sort of deal—perhaps one that separates Intel’s product and chip design business from its money-losing foundry arm.

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History of this topic

Mint Primer | CEO exits: Turning point or another blow for Intel?
1 month, 1 week ago

Mint Primer | CEO exits: Turning point or another blow for Intel?

Live Mint  

Once synonymous with semiconductor chips as “Intel Inside", the firm is struggling to regain its mojo after CEO Pat Gelsinger’s unexpected exit. Initially celebrated as the “saviour" of ailing Intel, Gelsinger’s abrupt retirement as CEO on 1 December saw the company’s stock rise 5.7% in intraday trading on Monday but close 0.5% lower. Gelsinger’s exit may slightly affect senior executives …

Intel ruled tech. Now it’s in deep trouble
1 month, 1 week ago

Intel ruled tech. Now it’s in deep trouble

CNN  

New York CNN — When legendary former Intel CEO Andy Grove wrote his bestseller “Only the Paranoid Survive” in 1996 about how to predict tech inflection points that might undermine a business, the notion that his company might face such a risk was purely theoretical. Shannon Stapleton/Reuters Other rivals, like AMD, also stole market share in the PC business, as …

Intel’s troubles deepen, as its boss makes an abrupt exit
1 month, 1 week ago

Intel’s troubles deepen, as its boss makes an abrupt exit

Live Mint  

When Pat Gelsinger took over as Intel’s chief executive in 2021 he seemed to possess the same impatient mindset as his mentor, Andy Grove, a former boss of the chipmaker famed for declaring that “Only the paranoid survive". View Full Image Graphic; The Economist Mr Gelsinger’s ouster comes after the chipmaker posted a $16.6bn loss in its quarterly results last …

Intel CEO Pat Gelsinger's Exit Creates Room For Fresh Deal Discussions
Trending News
1 month, 1 week ago

Intel CEO Pat Gelsinger's Exit Creates Room For Fresh Deal Discussions

ABP News  

The sudden departure of Intel CEO Pat Gelsinger expected present a new opportunity for the struggling company to explore potential deal options, including those he previously dismissed during his tenure leading the chipmaker. However, Gelsinger opposed the idea of breaking up the company, focusing instead on his strategy to restore Intel's technological leadership and transform it into a contract manufacturer …

Intel’s CEO Pat Gelsinger's forced exit may lead to new discussions on chipmaker's sale to partners, rivals
1 month, 1 week ago

Intel’s CEO Pat Gelsinger's forced exit may lead to new discussions on chipmaker's sale to partners, rivals

Firstpost  

Under Pat Gelsinger as CEO Intel pursued some radical cost-cutting measures, including job cuts, paused plant construction in Europe, and a suspension of its dividend. However, a poor earnings report in August, including a surprise loss, pushed the board to consider more drastic moves Intel’s new leadership could bring a fresh perspective on partnerships and acquisitions. Image Credit: Reuters The …

Intel CEO Pat Gelsinger's 'Bittersweet' response after being forced out
1 month, 1 week ago

Intel CEO Pat Gelsinger's 'Bittersweet' response after being forced out

India Today  

Intel Corporation’s Chief Executive Officer, Pat Gelsinger, has been forced to step down after the company’s board lost faith in his plans to revive the struggling chipmaker, reported Bloomberg. The board’s decision followed a tense meeting last week where Gelsinger discussed Intel’s efforts to regain market share and compete more effectively with rivals like Nvidia Corporation. Intel’s Chief Financial Officer, …

Intel CEO Pat Gelsinger ousted after company's poor performance, board said resign or be fired
1 month, 1 week ago

Intel CEO Pat Gelsinger ousted after company's poor performance, board said resign or be fired

India Today  

Intel CEO Pat Gelsinger, who resigned on December 1, after the board, reportedly frustrated, forced him to step down due to the company’s prolonged struggles to keep up with competitors like Nvidia and TSMC. The decision came after a tense board meeting last week, where Gelsinger outlined Intel’s plans to regain market share and compete with rivals such as Nvidia. …

Intel CEO Gelsinger ousted as Board loses confidence in revamp strategy
Top News
1 month, 1 week ago

Intel CEO Gelsinger ousted as Board loses confidence in revamp strategy

Live Mint  

Intel Chief Executive Pat Gelsinger has been forced out less than four years after taking the helm of the company, handing control to two lieutenants as the faltering American chipmaking icon searches for a permanent replacement. Gelsinger, who resigned on Dec. 1, left after a board meeting last week during which directors felt Gelsinger's costly and ambitious plan to turn …

Intel CEO retires as once-mighty chipmaker continues to struggle
1 month, 1 week ago

Intel CEO retires as once-mighty chipmaker continues to struggle

LA Times  

Intel CEO Pat Gelsinger speaks while holding a new chip, called Gaudi 3, during an event called AI Everywhere in New York on Dec. 14, 2023. Intel Chief Executive Pat Gelsinger has retired, the struggling chipmaker said Monday in a surprise announcement. “As a leader, Pat helped launch and revitalize process manufacturing by investing in state-of-the-art semiconductor manufacturing, while working …

Intel's $7.86 billion subsidy deal restricts sale of its manufacturing unit
1 month, 2 weeks ago

Intel's $7.86 billion subsidy deal restricts sale of its manufacturing unit

The Hindu  

Intel said on Wednesday its deal for $7.86 billion in U.S. government subsidies restricts the company's ability to sell stakes in its chipmaking unit if it becomes an independent entity. The U.S. Commerce Department announced the subsidy to Intel on Tuesday, part of $39 billion for the sector including Taiwan Semiconductor Manufacturing Co and others in an effort to revitalize …

The Rise of the Rent-Seekers: How Nvidia's Success is Feeding the Niche Monster
2 months, 1 week ago

The Rise of the Rent-Seekers: How Nvidia's Success is Feeding the Niche Monster

Live Mint  

The article explores the hyperconcentration of the semiconductor industry, with a focus on the impact of Nvidia's dominance on the market. Despite Nvidia's significant revenue growth, the foundries and equipment-makers who design and manufacture chips are left with a much smaller share of the profits. This disparity is attributed to the hyperspecialization of the industry, which has led to a …

Chip-maker Intel needs a turnaround, not a takeover by Qualcomm
3 months, 2 weeks ago

Chip-maker Intel needs a turnaround, not a takeover by Qualcomm

Live Mint  

They say if there’s ever a Silicon Valley Mount Rushmore, the first face to be chiselled into stone would be that of Gordon Moore. Intel’s chips still do well in the PC sector and also in data servers, which would complement Qualcomm’s position in the mobile market and give it a quick market share boost. But taking on chip foundries …

Intel stock surges on plans to make AI chips for Amazon and to turn foundry into subsidiary
3 months, 3 weeks ago

Intel stock surges on plans to make AI chips for Amazon and to turn foundry into subsidiary

Associated Press  

Shares of Intel are surging before the market opens Tuesday after the chipmaker said its foundry business would make some custom artificial intelligence chips for Amazon Web Services as it attempts to reinvigorate its business. CEO Pat Gelsinger said in a message to employees late Monday that Intel will create an AI fabric chip for Amazon’s cloud services division at …

Intel shares jump on chip deal with Amazon
3 months, 3 weeks ago

Intel shares jump on chip deal with Amazon

CNN  

New York CNN — Intel’s struggling chip-making business got a boost Monday from a high-profile client: Amazon. Intel Foundry and Amazon Web Services will coinvest in a custom chip design for the latter and “announced a multi-year, multi-billion-dollar framework,” according to a release. “Specifically, Intel Foundry will produce an AI fabric chip for AWS on Intel 18A,” Intel CEO Pat …

Intel CEO to pitch board on plans to shed assets, cut costs, source says
4 months, 1 week ago

Intel CEO to pitch board on plans to shed assets, cut costs, source says

The Hindu  

Intel CEO Pat Gelsinger and key executives are expected to present a plan later this month to the company’s board of directors to slice off unnecessary businesses and revamp capital spending, according to a source familiar with the matter, as they try to revive the once-dominant chipmaker's fortunes. The plan will include ideas on how to shave overall costs by …

Intel: Too big to turn, too vital to fail
5 months ago

Intel: Too big to turn, too vital to fail

Live Mint  

The chips are down as never before for Intel. Intel is already the biggest fish in the American pond; the company’s current fabs account for about 41% of the country’s 300 mm wafer production capacity—the type of chip production most commonly used in key market segments—according to market research firm TechInsights. Intel’s data center revenue is projected to hit $12.6 …

Intel lays off 15,000 employees. CEO says ‘painful but more tough days ahead’
5 months, 1 week ago

Intel lays off 15,000 employees. CEO says ‘painful but more tough days ahead’

Hindustan Times  

Intel CEO Pat Gelsinger informed employees that the company is cutting jobs in order to save money and reduce costs. Intel will announce a enhanced retirement offering for eligible employees and offer an application program for voluntary departures next week. This is an incredibly hard day for Intel as we are making some of the most consequential changes in our …

Chipmaker Intel to cut 15,000 jobs as it tries to revive its business and compete with rivals
5 months, 1 week ago

Chipmaker Intel to cut 15,000 jobs as it tries to revive its business and compete with rivals

LA Times  

Intel, based in Santa Clara, Calif., is also suspending its stock dividend as part of a broader plan to cut costs. “Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate,” he wrote in the memo published on Intel’s website. “Intel’s announcement of a significant cost-cutting plan including layoffs may …

Chipmaker Intel to cut 15,000 jobs as tries to revive its business and compete with rivals
5 months, 1 week ago

Chipmaker Intel to cut 15,000 jobs as tries to revive its business and compete with rivals

Associated Press  

Chipmaker Intel says it is cutting 15% of its huge workforce — about 15,000 jobs — as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD. “Intel’s announcement of a significant cost-cutting plan including layoffs may bolster its near-term financials, but this move alone is insufficient to redefine its position in the …

Intel plans to cut thousands of jobs to finance recovery: Report
5 months, 1 week ago

Intel plans to cut thousands of jobs to finance recovery: Report

The Hindu  

Intel plans to cut thousands of jobs to finance a recovery and cope with eroding market share, Bloomberg News reported on Tuesday, citing people familiar with the matter. CEO Pat Gelsinger has initiated a turnaround to regain the company's competitive edge, focusing on revitalizing its manufacturing capabilities, investing in advanced chip technologies, and expanding into new markets. In October 2022, …

Today’s Cache | Microsoft’s $2.9 billion AI investment in Japan; Intel’s Gaudi 3 AI chip to launch this year; TSMC boosts US chip production with $11.6 billion grants
9 months ago

Today’s Cache | Microsoft’s $2.9 billion AI investment in Japan; Intel’s Gaudi 3 AI chip to launch this year; TSMC boosts US chip production with $11.6 billion grants

The Hindu  

Microsoft invests $2.9 Billion in Japan for AI development Microsoft plans to invest $2.9 billion in Japan over the next two years, to enhance the country’s AI capabilities and bolster cybersecurity against threats from China and Russia. While earlier versions of Intel’s Gaudi AI chips didn’t gain significant market share, the company anticipates that the new model will have a …

Intel Loses $7 Billion In Its Chip Business Battle With TSMC Last Year
9 months, 1 week ago

Intel Loses $7 Billion In Its Chip Business Battle With TSMC Last Year

News 18  

– Intel on Tuesday disclosed deepening operating losses for its foundry business, a blow to the chipmaker as it tries to regain a technology lead it lost in recent years to Taiwan Semiconductor Manufacturing. Intel said the manufacturing unit had $7 billion in operating losses for 2023, a steeper loss than the $5.2 billion in operating losses the year before. …

Intel to make world's largest AI chip factory in the US, spend over $100 billion across four states
9 months, 2 weeks ago

Intel to make world's largest AI chip factory in the US, spend over $100 billion across four states

Firstpost  

Intel CEO Pat Gelsinger wants to build the largest AI chip manufacturing site in the world near Columbus, Ohio. The AI chip factory will be the centrepiece of Intel’s ambitious five-year spending plan to expand in the US Intel wants to build the world's largest AI chip making factory in Ohio, and plans to have it operational by 2027. Image …

AI chip race: Fears grow of huge financial bubble
10 months, 2 weeks ago

AI chip race: Fears grow of huge financial bubble

The Hindu  

Published : Feb 22, 2024 15:43 IST - 4 MINS READ Sam Altman caused more than a stir in early February when he called for a $5 to 7 trillion global investment to produce more powerful chips for the next generation of artificial intelligence platforms. “It is an order of magnitude more than the entire chip industry has spent in …

Intel Says Many PC Brands Using Its New AI-enabled Chip, Wants People To Upgrade PCs
1 year ago

Intel Says Many PC Brands Using Its New AI-enabled Chip, Wants People To Upgrade PCs

News 18  

-Intel on Thursday said that dozens of personal computer makers are using its newest chip, as the company and its customers try to entice consumers to upgrade their machines for a new era of chatbots. At a press event in New York, Intel said the new offering will be available in laptops from Dell Technologies, Microsoft, Lenovo Group and others …

Intel to build $33-billion chip plant in Germany after government pledges to cover a third of the cost
1 year, 6 months ago

Intel to build $33-billion chip plant in Germany after government pledges to cover a third of the cost

LA Times  

German Chancellor Olaf Scholz, right, and Intel CEO Pat Gelsinger in Berlin at a signing ceremony for a new chip plant. Intel and the German government signed a deal Monday that will see the U.S. company spend more than $32.8 billion to build a chip manufacturing plant in the eastern city of Magdeburg, after Germany pledged to cover a third …

Intel Sees More Losses as PC Makers Sharply Cut Chip Buying In 2023
1 year, 11 months ago

Intel Sees More Losses as PC Makers Sharply Cut Chip Buying In 2023

News 18  

-Intel Corp said it expects to lose money in the current quarter, surprising investors with a bleaker-than-expected outlook for both the PC market and slowing growth in its key data center division. "We expect some of the largest inventory corrections literally that we've ever seen in the industry taking place that's affecting the Q1 guide in a meaningful way," Intel …

Intel splits graphic chip unit, Alphabet links more of CEO Sundar Pichai’s pay to performance, and more
2 years ago

Intel splits graphic chip unit, Alphabet links more of CEO Sundar Pichai’s pay to performance, and more

The Hindu  

Intel splits its graphic chip unit into two as it doubles down on accelerated computing To compete with Nvidia Corp. and realign its business, Intel is splitting its graphic chip unit into two. The consumer graphics unit will be combined with Intel’s client computing group, which makes chips for personal computers, while accelerated computing teams will join its data center …

Intel splits graphic chips unit into two
2 years ago

Intel splits graphic chips unit into two

The Hindu  

Intel Corp. is splitting its graphic chips unit into two, the company said on Wednesday, as it realigns the business to better compete with Nvidia Corp. and Advanced Micro Devices. The consumer graphics unit will be combined with Intel's client computing group, which makes chips for personal computers, while accelerated computing teams will join its data center and artificial intelligence …

Intel shareholders reject compensation packages for top executives
2 years, 7 months ago

Intel shareholders reject compensation packages for top executives

The Hindu  

Intel Corp shareholders rejected compensation packages for top executives, including a payout of as much as $178.6 million to Chief Executive Officer Pat Gelsinger, a regulatory filing showed on Monday. About 1.78 billion votes were cast against executive compensation at the annual meeting, Intel said, though the vote is non-binding. The company said it had taken specific steps to address …

Apple, Intel, and Nvidia chip suppliers shut down in Shenzhen after coronavirus outbreak
2 years, 9 months ago

Apple, Intel, and Nvidia chip suppliers shut down in Shenzhen after coronavirus outbreak

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Foxconn, the world’s biggest contract electronics manufacturer, said that it would suspend production in its Longhua and …

Intel plans $20 bln chip manufacturing site in Ohio
2 years, 11 months ago

Intel plans $20 bln chip manufacturing site in Ohio

The Hindu  

Intel Corp will invest $20 billion in two new plants in Ohio to make advanced chips, the company said on Friday, the first step to a "mega-site" that can accommodate eight chip factories costing $100 billion. Chief Executive Pat Gelsinger is driving Intel plans to expand, especially in Europe and the United States, as it seeks to heat up competition …

Intel will build Ohio computer chip factories amid global shortage
2 years, 11 months ago

Intel will build Ohio computer chip factories amid global shortage

LA Times  

Intel will spend $20 billion on a new semiconductor manufacturing facility in Ohio. Intel will invest $20 billion in a new computer chip facility in Ohio amid a global shortage of microprocessors used in a wide variety of products, including phones, cars and video games. “Intel’s work is essential to our efforts to rebuild America’s chip building capacity and create …

Commerce head out to save US jobs, 1 computer chip at a time
3 years, 2 months ago

Commerce head out to save US jobs, 1 computer chip at a time

Associated Press  

WASHINGTON — Gina Raimondo only wears watches made by Bulova — a company that laid off her scientist father, closed its Rhode Island factory and moved production to China in 1983. “It’s been a tribute to my dad,” Raimondo said of her watch choices in an interview, “and a reminder to me that we need to do more to get …

Intel to invest up to 80 bln euros in boosting EU chip capacity-CEO
3 years, 4 months ago

Intel to invest up to 80 bln euros in boosting EU chip capacity-CEO

The Hindu  

Intel Corp on Tuesday said it could invest as much as 80 billion euros in Europe over the next decade to boost the region's chip capacity and will open up its semiconductor plant in Ireland for automakers. Intel CEO Pat Gelsinger, speaking at Munich's IAA auto show, also said the company would announce the locations of two major new European …

Intel reiterates chip supply shortages could last several years
3 years, 7 months ago

Intel reiterates chip supply shortages could last several years

The Hindu  

Intel Corp's CEO said on Monday it could take several years for a global shortage of semiconductors to be resolved, a problem that has shuttered some auto production lines and is also being felt in other areas,including consumer electronics. "But while the industry has taken steps to address near term constraints it could still take a couple of years for …

Intel Reiterates Chip Supply Shortages Could Last Several Years
3 years, 7 months ago

Intel Reiterates Chip Supply Shortages Could Last Several Years

News 18  

Intel?s CEO said on Monday it could take several years for a global shortage of semiconductors to be resolved, a problem that has shuttered some auto production lines and is also being felt in other areas, including consumer electronics. ?But while the industry has taken steps to address near term constraints it could still take a couple of years for …

Intel in talks to produce chips for automakers within six to nine months
3 years, 8 months ago

Intel in talks to produce chips for automakers within six to nine months

The Hindu  

The chief executive of Intel Corp told Reuters on Monday the company is in talks to start producing chips for car makers to alleviate a shortage that has idled automotive factories. Chief Executive Officer Pat Gelsinger said the company is talking to companies that design chips for automakers about manufacturing those chips inside Intel's factory network, with the goal of …

Intel offers up factories to ease chip shortage
3 years, 8 months ago

Intel offers up factories to ease chip shortage

The Telegraph  

Intel is in talks with car makers to quickly produce bulk orders of computer chips within the next nine months in an attempt to remedy a shortage that has ground production to a halt. Pat Gelsinger, Intel's chief executive, told officials and business executives at a White House briefing on Monday that his company's new third-party manufacturing division could help …

Intel Wants to Revive US Chipmaking—but It Has to Catch Up First
55 years ago

Intel Wants to Revive US Chipmaking—but It Has to Catch Up First

Wired  

Intel announced on Tuesday that it plans to spend $20 billion to build new chipmaking factories. “It's good news for the United States that Intel is doubling down on its manufacturing business,” says Saif Khan, a research fellow at Georgetown University’s Center for Security and Emerging Technology. Intel​’s CEO, Pat Gelsinger, said on Tuesday that the company would spend ​$20 …

Intel to Invest $20 Billion on US Chip Factories as CEO Challenges Asia Dominance
3 years, 9 months ago

Intel to Invest $20 Billion on US Chip Factories as CEO Challenges Asia Dominance

News 18  

Intel Corp will greatly expand its advanced chip manufacturing capacity as the new chief executive announced plans to spend as much as $20 billion to build two factories in Arizona and to open up its factories to outside customers. In an interview with Reuters, Gelsinger said Intel has “fully resolved” its problems with its most recent manufacturing technology and is …

Intel investing $20 billion in new US chipmaking plants as part of turnaround plan
3 years, 9 months ago

Intel investing $20 billion in new US chipmaking plants as part of turnaround plan

CNN  

New York CNN Business — Intel CEO Pat Gelsinger has only been on the job for about a month. Intel unveiled several major initiatives — including a $20 billion investment in two new US chipmaking facilities — aimed at reasserting its position as the undisputed leader of the semiconductor industry, a claim many experts have said the company lost in …

Incoming CEO wants Intel to again be ‘unquestioned leader’ in industry
3 years, 11 months ago

Incoming CEO wants Intel to again be ‘unquestioned leader’ in industry

CNN  

New York CNN Business — Intel investors and analysts got their first glimpse at incoming CEO Pat Gelsinger’s vision for the company during its earnings call on Thursday. Last month, activist shareholder Dan Loeb of Third Point wrote to Intel’s board chair urging the company to consider major changes, including whether to continue manufacturing its own chips. “I’ve had the …

Here’s what Intel’s new CEO must do to turn the company’s fortunes around
3 years, 11 months ago

Here’s what Intel’s new CEO must do to turn the company’s fortunes around

CNN  

New York CNN Business — Pat Gelsinger has a massive task ahead of him when he takes over as Intel CEO next month. “So the competition will continue to gain share at Intel’s expense.” Manufacturing challenges Intel is known for manufacturing its own chips — a distinction that was seen as a competitive advantage until the company fell off its …

Intel has few good options as investor demands break-up
4 years ago

Intel has few good options as investor demands break-up

The Hindu  

Activist investor Daniel Loeb wants Intel Corp to consider splitting its huge chip manufacturing operations from its chip design and development business, but analysts say doing so could weaken both businesses unless the firm can form a joint venture. In the interim, it would likely remain dependent on Intel's design operations for business - at precisely the time when Intel …

Microsoft Working on in-House Chip for its Data Centres and Surface Devices, Bad News for Intel?
4 years ago

Microsoft Working on in-House Chip for its Data Centres and Surface Devices, Bad News for Intel?

News 18  

Microsoft Corp is working on in-house processors for the servers running its cloud-computing services and Surface line of personal computers, potentially cutting its reliance on Intel, a person familiar with the matter told Reuters. Microsoft relies heavily on Intel and Advanced Micro Devices Inc to supply the chips for its Azure cloud computing services as well as its Surface PCs. …

Intel’s stock plunges as work on new computer chip bogs down
4 years, 5 months ago

Intel’s stock plunges as work on new computer chip bogs down

Associated Press  

SAN RAMON, Calif. — Intel is falling further behind in the race to build faster and more powerful computer chips, a nagging problem that may force the Silicon Valley pioneer to seek help from other manufacturers as it scrambles to catch up in the technological arms race. The unexpected snag means Intel’s 7-nanometer processing technology won’t be ready until the …

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