AI transformation difficulties, performance loss, market cap shrinks by nearly half, intel CEO "forced" to retire, stock price surges nearly 6%.
Pat Gelsinger, the CEO who worked at intel for over 40 years, officially retired on December 1st, Eastern Time. During his nearly four-year tenure, despite intel's ambitious plans, the market position continued to decline. The board of directors lost confidence in his ability to turn the situation around and ultimately gave him the choice of retiring or being dismissed, with Gelsinger opting to end his career at intel. Following the announcement, intel's stock price surged more than 5.7% during trading on Monday.
Intel (INTC.US) CEO Kissinger retires. Analysts are bullish on the new leadership bringing transformative opportunities.
Recently, intel announced that its CEO Pat Gelsinger will resign from his leadership position, a change that has garnered widespread attention in the investment community.
The three major industry associations have all spoken out! Be cautious when purchasing usa chips.
The China Semiconductor Industry Association, China Automobile Industry Association, and China Internet Association have all issued statements, urging domestic enterprises to carefully choose to purchase American chips. The new round of US export restrictions involves over 140 Chinese companies, impacting semiconductor manufacturing equipment, electronic design automation tools, and violating the fair principles of the global semiconductor industry.
Intel CEO's resignation backstory: clashed with the board of directors, either retire or be dismissed.
According to informed sources, Gelsinger discussed the progress of intel regaining market share and narrowing the gap with nvidia with the board of directors last week, at which point the conflict between the two parties had reached its peak. It is reported that Gelsinger faced the choice of retirement or being fired, and he ultimately chose to end his career at intel.
Express News | China Communications Enterprise Association: To ensure the security and stability of the information communication industry chain and supply chain, caution should be exercised in purchasing American chips.
Track Hyper | Where will intel go after Kissinger retires?
The status of IDM 2.0 is uncertain, but product competitiveness is promising.