When you purchase through links on our site, we may earn an affiliate commission.Heres how it works.
Now, Intel may have to wait before receiving billions of dollars through the CHIPS Act.
In an effort to save $10 billion through 2025, Intel announced 15,000 layoffs.
While Intel’s Lunar Lake CPUs garnered interest when announced, the company as a whole is facing serious issues.
“Our costs are too high, and our margins are too low.
The company also saw itsIntel Foundry services lose $7 billion in 2023.
Intel’s struggles come during a time period in whichNVIDIA became the world’s most profitable company.
Intel’s recently announced Core Ultra Series 2 processors have been a bright spot in the middle of a difficult year for the company.
Intel has largelyfailed to capitalize on the AI wave, especially compared to other tech giants.
According to Bloomberg’s sources, Intel will discuss its next steps in a board meeting this month.
A previous report byReutersindicated Intel’s mid-September board meeting will see plans discussed to cut costs and shed assets.
That announcement was especially significant since Qualcomm’sSnapdragon X EliteandSnapdragon X Plushave earned positive reviews.
Unfortunately for Intel, promising processors will likely do little to instill confidence in the US government.
The tech giant needs to show that its Foundry services can be financially viable.
