Pat Gelsinger's plan to supercharge chip production appears to have backfired dramatically.
CNBC's Seema Mody joins 'Closing Bell' to discuss what's next for chipmaker intel as the company searches for a new CEO.
Intel Corp has been removed from the Dow Jones 30, replaced by NVIDIA Corp, reflecting their poor performance over the past five years. Intel's stock is down 57% from five years ago, underperforming compared to other large semiconductor companies. Intel was once dominant in CPU hardware, but the shift to GPU hardware has left them struggling to compete.
Intel has started shortlisting a handful of candidates, including former board member Lip-Bu Tan, for the role of chief executive after the struggling American chipmaker ousted company veteran Pat Gelsinger, according to people familiar with the matter.
Intel (INTC) shares will likely remain on watchlists Tuesday, a day after the embattled chipmaker said CEO Pat Gelsinger had stepped down and will be replaced by a pair of interim co-CEO's as it searches for a permanent replacement.
Paul Argenti, Dartmouth Tuck School of Business professor, joins 'Squawk Box' to discuss the departure of Intel CEO Pat Gelsinger, what's next for the company, and more.
Intel former CEO Pat Gelsinger could get as much as $12 million as payout, a regulatory filing showed on Tuesday, following his ouster from the struggling U.S. chipmaker.
After a largely disappointing year for Intel, the company's stock has seen a modest jump this morning in the wake of an announcement that CEO Pat Gelsinger is retiring—effective immediately.
Intel CEO Pat Gelsinger's removal has put an abrupt end to his role in the struggling chipmaker's turnaround efforts, leaving Wall Street with doubts whether his ambitious revival plan is headed for the chopping block.
Pat Gelsinger's exit might open some options, but Intel's struggles in manufacturing technology and market shifts are still significant.
Intel's recent struggles include suspending dividends, delaying factory construction, and drastic cost-cutting measures, reflecting significant financial challenges. Despite disappointing quarterly results, management remains optimistic about long-term improvements in margins and free cash flow by 2026. Rumors of a Qualcomm takeover are circulating, but financial and strategic hurdles make such a deal unlikely.
John Freeman of Ravenswood Partners discusses Intel's way ahead after Pat Gelsinger stepping down as CEO. He adds that the fall in CPU demand relative to GPUs will be another headphone for the chip company.