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.
Amazon founder invests in Jim Keller, targeting nvidia.
Recently, Tenstorrent, led by industry renowned figure Jim Keller as CEO, announced the completion of a $0.693 billion Series D financing round led by Samsung Securities and AFW Partners. Following this round of financing, the valuation of this AI chip startup is approximately $2.6 billion.
The CEO of intel has unexpectedly "retired", and the former chip giant struggles to regain its glory, with stock prices already falling more than 50% this year!
Forced and helpless.
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