Breaking down Intel’s wild week
Published On Sep 25, 2024, 4:46 PM
Intel is undergoing significant challenges, including declining sales, missed opportunities in AI, and a major turnaround effort led by CEO Pat Gelsinger. Recently, the company signed a deal with Amazon to develop custom chips, potentially boosting its foundry business. However, rumors of a possible acquisition by Qualcomm and a multibillion-dollar investment offer from Apollo Global Management have emerged. Despite some positive developments, Intel continues to face stiff competition, particularly in the AI market where it lags behind Nvidia. Analysts express skepticism about Intel's foundry plans amidst its sales struggles.