Will more funding be needed to keep Intel competitive?

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.

  • floofloof@lemmy.caEnglish
    55·
    4 months ago

    Pat Gelsinger, Intel’s CEO, is an engineer. He was the lead architect of the 80486 processor. If there’s one thing Intel can’t be accused of, it’s having a CEO who doesn’t understand engineering. I don’t know how good a leader he is, but he does understand designing microprocessors, and he is picking up the pieces from years of complacent MBA types before him.

    https://en.wikipedia.org/wiki/Pat_Gelsinger

    • InvertedParallax@lemm.eeEnglish
      2·
      4 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.