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.
You can’t trust capitalism to take care of your national security
they should nationalize intel if they really care about chip independence
Injection of money more often than not does not solve the fundamental problems that lead a business to failure or in this case poor performance. The causes of the poor decisions along the way must also be addressed.
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.
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.
Intel’s current CEO is Pat Gelsinger, he’s an engineer who was the chief architect of the i486.
It’s not just who’s at the top, the issue is that the company has gotten too big. There’s a reason why AMD with such a lower staff count has managed to leapfrog Intel.
There’s a reason why AMD with such a lower staff count has managed to leapfrog Intel.
Jim Keller was a pretty big reason.
I suspect Intel has a broader product range than AMD to justify the headcount, but I’m not sure where the extra resources should go.
Their networking chipsets were gold-standard in the 100M and Gigabit era, but their 2.5G stuff is spotty to the point Realtek is considered legit.
They’ve pulled back from flash, SSDs and Optane.
There must be some other rich product lines that they do and AMD doesn’t
There’s a reason why AMD with such a lower staff count has managed to leapfrog Intel.
AMD just makes the designs and farms out manufacturing. Intel has to make the designs and manufacture the chips themselves.
Would a great time to buy all that stock for so cheap!
Ohh wait these clowns blew 100b USD on buyback already, got no money, their core biz is tanking but hey
Atleast they are getting taxpayer money for “fabs”
Cheers suckers
Intel received the largest benefit from the CHIPS Act with $8.5b
https://www.theverge.com/24166234/chips-act-funding-semiconductor-companies
Privatize the profits, socialize the losses.
