Pat Gelsinger News

annual cash bonus of up to $2 million, the company said in a regulatory filing on Friday. The company named Tan as the CEO on Wednesday, tasking the industry veteran to lead a faltering transition to a successful chip manufacturing firm as well as chip design house. He will take charge on March 18. Tan's employment agreement includes a three-year performance target, making him eligible to keep two-thirds of his stock awards if a «change in control» or a significant shift in the ownership takes place within 18 months of his joining.

Intel surged nearly 15% on Thursday, as Wall Street cheered its decision to name former board member Lip-Bu Tan as CEO, who left in August over differences about the chipmaker's direction, after several years of market underperformance. Tan will be tasked with reviving the company's fortunes after it missed out on the artificial intelligence-driven semiconductor boom while plowing billions of dollars into building out its chip-making business. Intel has posted several quarters of market share losses in data centers and PCs, as well as billion-dollar losses in its manufacturing business, and over the past five years, the stock has lost about 60% of its value, a period of time when the Nasdaq Composite Index and S&P 500 have both more than doubled. «Tan in as CEO at Intel was as good as stakeholders could have hoped for,» said TD Cowen analysts, noting that he has «deep relationships» across the chip ecosystem that could draw customers to the company's contract manufacturing business. Tan will take the helm next week — three months after Intel ousted CEO Pat Gelsinger. Tan had been brought into the board two years earlier to help turn the company around, but left due to disagreements over the size of the company's workforce and its culture. Skepticism about Intel's future has deepened in recent months amid reports that rivals, including Broadcom, were evaluating the chip design and marketing business, while TSMC has separately studied controlling some or all of its plants.

Tan told the Intel team his focus would be on engineering, saying it «won't be easy» to overcome challenges faced by the company. Tan, who was born in Malaysia, will start as Intel chief on March 18, according to the company.

Struggling chipmaker Intel has hired former board member and semiconductor industry veteran Lip-Bu Tan as the latest in a succession of CEOs to attempt to turn around the company that helped define Silicon Valley

Ex-Intel CEO Pat Gelsinger and also the current chairman of startup Gloo has eventually become a vocal advocate for DeepSeek R1 which is an innovative Chinese open source AI model that is challenging the dominance of OpenAI, reported Tom’s Hardware.

Subscribe to enjoy similar stories. DeepSeek has challenged big tech, proving AI can be efficient without costly graphics processing units (GPUs) or massive data centres. Now Microsoft is probing possible unauthorized access to OpenAI data by a group linked to DeepSeek.

DeepSeek's launch of its open-source AI reasoning model, R1, has sent shockwaves through the tech industry. In just a short time, it surpassed OpenAI’s ChatGPT in popularity on the App Store. The groundbreaking model’s performance and affordability have prompted strong reactions, including from Pat Gelsinger, former CEO of Intel. On X (formerly Twitter), Gelsinger shared his thoughts on R1’s impact, drawing lessons from computing history that he believes the AI community must embrace.

Pat Gelsinger took to LinkedIn to cheer Chinese artificial intelligence (AI) DeepSeek, calling it «an incredible piece of engineering that will usher in greater adoption of AI». He added that the startup's overnight fame shows a reset within the industry towards open innovation.

The chipmaking icon's revenue for the first nine months of this year, which was roughly flat year-on-year at $38.84 billion, was below the ratings agency's expectations, S&P Global said. The departure of CEO Pat Gelsinger, who was critical to the Intel's integrated manufacturing strategy, also adds uncertainty to the execution of the company's turnaround plan, S&P Global said.

Subscribe to enjoy similar stories. Pat Gelsinger’s quest to save Intel has come to an abrupt end. Whoever runs the storied chip maker next is still going to have to pull off a heroic feat.

Struggling chipmaker Intel says in a surprise announcement that CEO Pat Gelsinger has retired

Nvidia is replacing Intel on the Dow Jones Industrial Average, ending a 25-year-run for a pioneering semiconductor company that has fallen behind as Nvidia cornered the market for chips that run artificial intelligence systems

Intel on Thursday posted the biggest quarterly loss in its 56-year history, as the onetime highflying chipmaker struggles to turn itself around. The Silicon Valley company said its loss for the third quarter totaled $16.6 billion, a result of $15.9 billion in charges to reflect lowered valuations of company assets and a $2.8 billion restructuring charge associated with cutting more than 15,000 workers. Pat Gelsinger, Intel's CEO, had ordered the restructuring in August in response to shrinking profit margins caused by the costs of catching rivals in manufacturing technology and little success in the booming market for artificial intelligence chips, among other factors.

Intel is expected to report its biggest quarterly revenue drop in five quarters on Thursday, potentially signaling more erosion of data center and personal computer market share for the once iconic American chipmaker. Shareholders have turned their focus to CEO Pat Gelsinger's attempts to salvage the company's lost market lead as losses mount at its contract manufacturing business, while Intel fails to capitalize on the generative AI-driven chip boom, after a series of missteps including passing on an investment in OpenAI. With Wall Street expecting Intel to report an 8% decline in revenue to $13.02 billion, according to data from LSEG compiled as of October 26, investors want Gelsinger to provide clarity on his plans to get the company's latest manufacturing technology up and running.

Intel CEO Pat Gelsinger inherited a troubled company that had lost its edge in manufacturing skills and had ceded to rivals the hugely lucrative markets for chips used in mobile phones and artificial intelligence. 1968 — Robert Noyce and Gordon Moore found Intel, helping reshape California's Santa Clara Valley from fruit orchards into the Silicon Valley tech hub. 1971 — Intel introduces the 4004, the world's first commercially made programmable microprocessor, with 2,300 transistors. These were among the first chips that could be programmed to perform specific functions, unlike previous processors that were hardwired only for a certain task — a turning point in the history of the semiconductor industry that laid the groundwork for the development of CPUs.

Subscribe to enjoy similar stories. They say if there’s ever a Silicon Valley Mount Rushmore, the first face to be chiselled into stone would be that of Gordon Moore. The Intel co-founder’s famous prediction about the rate at which semiconductors would improve has been the bedrock of US technology leadership.

Shares of Intel are surging before the opening bell after the chipmaker said its foundry business would make some custom artificial intelligence chips for Amazon Web Services as it attempts to reinvigorate its business

Subscribe to enjoy similar stories. SINCE ITS founding in 1968 Intel has been synonymous with shrinkage. In its first four decades this was high praise.

Nvidia tumbled 9.5% on Tuesday in the deepest ever single-day decline in market value for a U.S. company, as investors softened their optimism about artificial intelligence in a broad market selloff following tepid economic data. Nvidia lost $279 billion in market capitalization, a major indication that investors are becoming more cautious about emerging AI technology that has fueled much of this year's stock market gains.

tech companies have again resorted to job cuts to rein in costs, even as advancements in generative artificial intelligence continue to disrupt business. So far this year, 384 tech companies have fired 124,517 employees, according to layoffs tracker website Layoffs.fyi. Chip major Intel, Windows maker Microsoft, Tinder parent Match are among the companies that have announced mass layoffs so far. Back home, Indian tech startups are also shedding jobs amid a difficult funding environment and overall valuation reset.

Chipmaker Intel Corp. is cutting 15% of its massive workforce as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD