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Snapshot 7:Mon, Dec 2, 2024 7:43:57 PM GMT last edited by Pavel

Intel Chief Executive Gelsinger Steps Down

Intel Chief Executive Gelsinger Steps Down

Above: Pat Gelsinger holds a wafer as he speaks at the Computex conference in Taipei, Taiwan, on June 4, 2024. Image copyright: Annabelle Chih/Contributor/Bloomberg via Getty Images

The Spin

The leadership change represents a necessary step toward revitalization. Intel couldn't effectively compete in the artificial intelligence (AI) chip market and lost significant ground to rivals. The chipmaker requires fresh leadership to restore investor confidence and build improved semiconductors that can power the AI boom.

The sudden, board-driven departure disrupts Intel's ambitious turnaround plan, including its strategy to become a major contract manufacturer and restore American semiconductor leadership. Gelsinger's abrupt departure potentially jeopardizes crucial initiatives and partnerships, which were showing early signs of progress.

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Metaculus Prediction

There's a 39% chance that Nvidia will have the largest market cap in the world at the end of 2024, according to the Metaculus prediction community.


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