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Intel’s Steady Decline Continues With 15% Cut to Staff and Scrapped Factory Plans
Intel CEO Lip-Bu Tan told employees in a staff-wide memo yesterday that the company plans to cut its workforce by roughly 15%—more than 25,000 jobs—aiming to end the year with about 75,000 employees worldwide. The cuts are part of the struggling chipmaker’s efforts to turn things around and compete in the booming AI market.
The storied chipmaker cut management layers by half and plans to reduce its overall workforce by 15% amid a broader austerity ...
Intel’s top line is projected to decline again this year - suggesting revenue stagnation could become the norm.
Intel is cancelling its leading edge fab in Madgeburg, Germany, as well as a chiplet packaging plant in Poland as part of its ...
Gross margin remains under pressure, falling by 790 basis points from 35.4% to 27.5%, while adjusted gross margins fell 900 ...
Samsung and TSMC could benefit from the move, while makers of wafer fab equipment may lose out, according to Bernstein ...
Intel is looking for investors in order to spin-off its long-running Network and Edge Group (NEX), which generated $5.8 ...
Key Points Intel scaled back its AI accelerator ambitions earlier this year.The company now appears to be refocusing on AI ...
Lip-Bu Tan seemingly also said that "we are not in the top 10 semiconductor companies" any longer - a frank admission indeed.
Companies like Intel are at the forefront of this movement, working hard to ensure that the benefits of AI are available to all. One challenge with AI tools, like generative AI, is their high ...
Compared to its last-generation chips, Intel claims that Meteor Lake delivers 1.7 times the performance in generative AI and is 2.5 times as power efficient in the UL Procyon AI inference ...
Experts highlighted that cognitive intelligence represents an advanced stage in AI development, currently progressing at an ...
The Register on MSN20h
AI don't know: Enterprises slow to pick up on Copilot+ PCs
Businesses don't seem to care about exclusive features like Recall Copilot+ PCs are so far failing to penetrate the enterprise as IT decision makers remain understandably unimpressed with the ...
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