The departure of Gelsinger underscores the turmoil at Intel, which has been eclipsed by rival Nvidia.
FILE – Intel CEO Pat Gelsinger speaks while holding a new chip, called Gaudi 3, during an event called AI Everywhere in New York, on Dec. 14, 2023.
Gelsinger started at Intel in 1979 at Intel and was its first chief technology officer. He returned to Intel as chief executive in 2021. Gelsinger’s departure comes as Intel’s financial woes have been piling up. The company posted a $16.6 billion loss in the most recent quarter and the company’s shares have fallen by more than half since he took over as CEO. Gelsinger announced plans in August to slash 15% of its huge workforce — or about 15,000 jobs — as part of cost-cutting efforts to to save $10 billion in 2025.plans on reducing part of Intel’s $8.
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