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The rise and decline of Intel

Economic Times

Economic Times · 9m ago

The rise and decline of Intel

Intel CEO Pat Gelsinger took over a struggling company that had lost its edge in manufacturing and market share to rivals in the mobile phone and AI chip markets. Intel's history dates back to its introduction of the first commercially made programmable microprocessor in 1971. They later became a staple in the personal computing industry and were added to the Dow Jones Industrial Average. However, Intel missed out on opportunities in the mobile phone boom and faced legal disputes and antitrust scrutiny. They also struggled with manufacturing setbacks and increased competition. Under Gelsinger's leadership, Intel aims to transform into a producer of chips for other companies, investing billions in manufacturing facilities and cutting jobs to turn around their money-losing business.

Related News

How Intel fell from global chip champion to takeover target

Livemint

Livemint · 11m ago

How Intel fell from global chip champion to takeover target

Intel, once a dominant leader in the semiconductor industry, is now facing the possibility of being acquired by Qualcomm, highlighting its strategic missteps and the rise of artificial intelligence (AI). Intel's manufacturing setbacks and failure to anticipate the demand shift towards AI chips made by rival Nvidia have contributed to its decline. While a deal with Qualcomm is uncertain, the idea of the smartphone-chip giant acquiring Intel would have been unthinkable in the past. Intel's CEO, Pat Gelsinger, had pursued a costly turnaround strategy, but the company's struggles in the AI market have led to significant job cuts and cost reductions. A positive turnaround for Intel is still possible, contingent on the success of their next-generation chip-making technology. Overall, Intel's core chip business faces challenges in recovering as the market continues to focus heavily on AI chips.

Apollo eyes $5 billion investment in Intel: reports

Economic Times

Economic Times · 11m ago

Apollo eyes $5 billion investment in Intel: reports

Asset management company Apollo Global Management has offered to invest up to $5 billion in Intel. Apollo has expressed interest in making an equity-like investment in the struggling chipmaker. Talks are still in the preliminary stage and the size of the potential investment could change. This offer comes as Intel faces a decline in share value and a possible acquisition by Qualcomm. Apollo had previously announced a $11 billion investment in a joint venture related to Intel's manufacturing facility in Ireland. Both Intel and Apollo have declined to comment on the matter.

Qualcomm asked chip rival Intel if it would consider a sale

Economic Times

Economic Times · 11m ago

Qualcomm asked chip rival Intel if it would consider a sale

Qualcomm has reportedly approached Intel about the possibility of acquiring the struggling chipmaker. However, no official offer has been made yet, and the obstacles to a deal are significant. Regulatory scrutiny is expected due to the size and national security importance of both companies. It is unclear if regulators would allow Qualcomm to buy Intel without taking on its struggling foundry business. The deal would also be costly, considering Intel's market capitalization of $93 billion. Intel has faced management issues and missed out on opportunities in mobile and artificial intelligence, leading to a decline in its market position.

Intel is sued by shareholders alleging securities fraud

Economic Times

Economic Times · 1y ago

Intel is sued by shareholders alleging securities fraud

Intel is facing a lawsuit from shareholders who claim that the company concealed issues that resulted in poor Q2 results. The lawsuit alleges that Intel fraudulently withheld information, leading to a decline in its stock value and the suspension of their dividend. The proposed class action seeks unspecified damages, with Intel's CEO and CFO also named as defendants. The chipmaker recently announced plans to reduce its workforce by 15%.

Intel, AMD fall on report China blocks U.S. chips in state computers

Reuters · 1y ago

Intel, AMD fall on report China blocks U.S. chips in state computers

Shares of Intel and Advanced Micro Devices (AMD) dropped by over 2% following reports that China will limit the use of their chips and servers in government computers. This move could potentially impact billions of dollars in sales for the US companies, as China is Intel's largest market and accounts for a significant portion of AMD's sales. Analysts predict that a total cessation of China's governmental purchases of Intel and AMD CPUs could lead to a revenue hit of up to $1.5 billion for Intel and a few hundred million dollars for AMD. Microsoft, whose revenue from China is not disclosed separately, also saw a slight decline in its shares.

Nvidia’s rivals prepare their AI assault

Livemint

Livemint · 1y ago

Nvidia’s rivals prepare their AI assault

Nvidia's competitors, Intel and Advanced Micro Devices (AMD), are preparing to challenge Nvidia's dominance in the AI chip market. Nvidia's sales and market value have surged due to the demand for its chips in generative AI applications. Intel and AMD are experiencing a decline in data-center sales as companies shift their spending towards Nvidia's specialized chip platforms. AMD is launching a new class of AI accelerator chips called the MI300 family, while Intel is showcasing its latest AI products. However, both companies still have a significant gap to close compared to Nvidia's projected data-center revenue.

Intel to lay off 15,000 employees as chipmaker tries to revive its business

Economic Times

Economic Times · 1y ago

Intel to lay off 15,000 employees as chipmaker tries to revive its business

Intel is cutting 15% of its workforce, around 15,000 jobs, in an effort to compete with rivals Nvidia and AMD. The company plans to save $10 billion by 2025 and align its cost structure with its new operating model. Intel reported a loss in its second quarter, along with a small decline in revenue, leading to a plunge in its stock value. The job cuts will be accompanied by an enhanced retirement offering and a voluntary departures program. Analysts suggest that cost-cutting measures alone may not be enough for Intel to redefine its position in the chip market.

Inside Intel, CEO Pat Gelsinger fumbled the revival of an American icon

Livemint

Livemint · 9m ago

Inside Intel, CEO Pat Gelsinger fumbled the revival of an American icon

Intel CEO Pat Gelsinger made a series of missteps during his tenure that have led to a decline in revenue and stock price for the company. One such mistake was offending Taiwanese semiconductor manufacturer TSMC, which resulted in the loss of a discount on chip production. Gelsinger's efforts to regain manufacturing leadership and transform Intel into a chip foundry have also faced delays and technical issues. The company's struggles have raised concerns about its ability to compete with rival manufacturers like TSMC and Nvidia.

Global PC market sees 14% shipment decline in 2023: report

Economic Times

Economic Times · 1y ago

Global PC market sees 14% shipment decline in 2023: report

The global PC market experienced a 14% decline in shipments in 2023, primarily due to sluggish demand in the commercial and consumer sectors. This decline marked the eighth consecutive quarter of year-over-year shipment decline. However, PC vendors are hopeful that shipment momentum will pick up in the first half of 2024. Lenovo and HP maintained their leading positions in the market with 24% and 21% market shares respectively, while Dell and Apple witnessed significant drops in shipments. Analysts predict that AI PCs will gain prominence in 2024, with Intel and AMD unveiling CPU solutions for next-generation AI PCs.

Intel set for big drop in quarterly revenue as chipmaker struggles to bounce back

Economic Times

Economic Times · 9m ago

Intel set for big drop in quarterly revenue as chipmaker struggles to bounce back

Intel is expected to report a significant decline in quarterly revenue, indicating potential market share loss in the data center and personal computer sectors. CEO Pat Gelsinger's efforts to revive the company's position are being closely watched. Shareholders want clarity on the company's plans for advanced manufacturing technology and potential spin-off of the manufacturing business. Intel's stock has dropped over 50% this year, and its market value has fallen below $100 billion. The company's foundry business is expected to post an operating loss, impacting gross margins. Additionally, Intel is facing competition from AMD in the PC and data center markets.

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