Intel (INTC -5.43%) stock is losing ground in Tuesday's trading. The semiconductor company's share price was down 5.8% as of 2 p.m.
Intel Corp INTC has reportedly narrowed its search for a new CEO. The list of potential candidates has now been whittled down to a few prominent figures, including former board member Lip-Bu Tan, Reuters cites familiar sources.
Intel is considering tapping an outside hire as CEO, a nearly unprecedented occurrence, as the company reels from the ouster of Pat Gelsinger. Intel has hired Spencer Stuart, the executive search firm, to conduct the process.
Intel shares fell more than 5% on Tuesday, a day after the chipmaker announced the ouster of CEO Pat Gelsinger. Analysts at Cantor wrote in a note to clients that the company's challenges aren't the fault of Gelsinger and, "we simply do not see a quick fix here.
Intel Corp (NASDAQ:INTC, ETR:INL) could well be looking at a split of its design and manufacturing businesses in the wake of chief executive Pat Gelsinger's hasty departure on Monday. According to Bank of America analysts, the separation of the two divisions was now “a greater possibility” to give both “much-needed operational and financial independence”.
Pat Gelsinger's successor has big problems to pick up. The departing Intel CEO has struggled with a turnaround and left the company behind on AI.
CNBC's Deirdre Bosa reports on the latest news regarding Intel.
Intel (INTC) is looking for a new CEO after announcing Pat Gelsinger's sudden departure. Bloomberg Intelligence senior tech industry analyst Mandeep Singh joins Morning Brief Hosts Seana Smith and Brad Smith to discuss what's next for the chipmaker as it looks for Gelsinger's replacement as the company struggles to keep up in the artificial intelligence (AI) space dominated by Nvidia (NVDA) "For a company like Intel to have this sort of uncertainty when they were not executing well.
The semiconductor industry has become a hotbed of innovation, driven by surging demand for artificial intelligence (AI) and high-performance computing (HPC).
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.