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Intel’s CEO: ‘We are not in the top 10’ of leading chip companies
OREGON, CALIFORNIA, ARIZONA, ISRAEL, JUL 10 – Intel CEO Lip-Bu Tan announced layoffs and strategic shifts as the company falls out of the top 10 semiconductor firms, with market value halved to around $100 billion.
- New CEO Lip-Bu Tan told staff in leaked message today that Intel is not in the top 10 semiconductor companies as thousands faced layoffs amid severe technical and financial challenges.
- Technological setbacks over the past decade, combined with $16 billion in losses and losing market share to AMD’s EPYC, fueled Intel's decline and operational struggles.
- Intel's market value halved to around $100 billion, with 529 Oregon layoffs planned and contractor numbers at Kiryat Gat dropping from 5,500 to 2,000, freezing the $25 billion plant expansion.
- In response, Tan emphasized a focus on edge AI and shrinking Intel to boost agility, framing layoffs as part of a marathon effort to regain competitiveness amid market declines.
- Intel plans to launch 18A next year and shift to 14A by 2027, while Nvidia's valuation exceeds $4 trillion, highlighting industry competitiveness challenges.
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Intel CEO admits it's 'too late' to be competitive with AI rivals
Intel’s recent struggles in the highly competitive semiconductor market have come to a head, with the company’s CEO, Lip-Bu Tan, claiming that the company has fallen behind in the AI race. According to Oregon Tech, Tan confirmed internally that Intel is no longer a contender among the top 10 semiconductor companies, marking a stark contrast to its previous dominance in the industry. Intel has faced significant setbacks over the past few years, w…
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Total News Sources15
Leaning Left2Leaning Right0Center3Last UpdatedBias Distribution60% Center
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- 60% of the sources are Center
60% Center
L 40%
C 60%
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