In the midst of extraordinary challenges, Intel CEO Pat Gelsinger abruptly retired on Monday morning, abandoning the business where he began his career.
Gelsinger was hired by the chipmaker over four years ago with the goal of reviving Intel’s manufacturing advantage and technological prowess. The 63-year-old Gelsinger was successful in supplying increasingly sophisticated computer processors. However, as rivals seized market share and Gelsinger’s strategy to enter contract manufacturing failed to draw clients, the company’s revenue fell.
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silicon forest
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Intel finalizes $7.9 billion in federal subsidies for scaled-back expansion
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Biden administration will trim Intel s $8.5 billion CHIPS Act grant, NYT reports
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Oregon-based Lattice Semiconductor may try to buy part of Intel, Bloomberg reports
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