Intel

February 3, 2025 6:13 PM

Global semiconductor revenue jumps 18 per cent in 2024: report

The global semiconductor industry witnessed a strong rebound in 2024, with total revenue reaching $626 billion, marking an 18.1 per cent increase from the previous year, according to a report released on Monday. This positive momentum is expected to continue, with projections indicating that semiconductor revenue will climb to $705 billion in 2025, the report from Gartner stated. While memory dominated the market, non-memory semiconductor revenue also saw a 6.9 per cent increase in 2024, accou...

December 3, 2024 1:11 PM

Intel CEO Gelsinger forced out after board lost confidence in turnaround plan

Intel Chief Executive Pat Gelsinger has been forced out less than four years after taking the helm of the company, handing control to two lieutenants as the faltering American chipmaking icon searches for a permanent replacement. Gelsinger, who resigned on Dec. 1, left after a board meeting last week during which directors felt Gelsinger's costly and ambitious plan to turn Intel around was not working and the progress of change was not fast enough, according to a person familiar with the matter...

August 2, 2024 11:33 AM

Intel to cut 15% jobs, suspend dividend in turnaround push

Intel said on Thursday it would cut more than 15% of its workforce and suspend its dividend starting in the fourth quarter as the chipmaker pursues a turnaround centered around its loss-making manufacturing business. It also forecast third-quarter revenue below estimates, grappling with a pullback in spending on traditional data center semiconductors and a focus on AI chips, where it lags rivals. Shares of Santa Clara, California-based Intel slumped 20% in extended trade, setting it up to lose...