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Intel’s Troubles Complicate U.S. Chip Independence (spectrum.ieee.org)

submitted 2 months ago by [email protected] to c/[email protected]

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Will more funding be needed to keep Intel competitive?

On 1 August 2024, Intel announced financial results for the second quarter of 2024. They weren’t pretty; the company’s stock dropped more than 25 percent as it announced an aggressive plan to cut costs, including layoffs that will impact 15 percent of its entire workforce.

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[–] [email protected] 2 points 2 months ago

They brought him in to fix things, after a gaping finance moron named Bob swan took it after Brian krzanich pushed gelsinger out after he rescued it in the 2000s by developing the core series after the pentium 4 failed.

Brian krzanich fiddled because amd was on fire and he thought he could keep arm at bay. Bob swan didn't understand anything so he just cranked they buybacks.

It's a nightmare, and it's just getting worse, their engineering management went to hell because internal politics beat everything else.