Posted on 08/05/2024 12:12:04 PM PDT by anthropocene_x
In a sure sign that a stable hand is at the wheel, Intel CEO Pat Gelsinger is tweeting out inspirational Bible verses. Intel’s stock plummeted at the end of last week.
Sunday afternoon, Gelsinger quoted Proverbs—the New International Version translation. The bit of poetry came amidst a collapsing stock price at Intel following the news that the company had missed quarterly targets and would cut thousands of jobs.
“Let your eyes look straight ahead; fix your gaze directly before you. Give careful thought to the paths for your feet and be steadfast in all your ways,” Gelsinger posted, quoting Proverbs verse 4, lines 25 and 26.
Tweeting out Bible verses isn’t a good way to calm investor panic. Amid a consumer scandal and a changing chip market, news broke last week that Intel would cut thousands of jobs. When the chip manufacturer finally reported its quarterly earnings to investors on Thursday, the fallout was worse than expected.
Following the news that Intel would fall short of its projected earnings, the stock price took a tumble settling down 26% on Friday. It was Intel’s largest stock loss in 50 years. Intel said it would restructure its business and is looking to cut billions in costs, including 15% of its workforce.
(Excerpt) Read more at gizmodo.com ...
Thru the eye of the needle.
One of the most successful enterprises on earth and a technological leader too. How could it do suddenly bomb out ?? Like we got the news literally overnight
They have been trying to maintain premium pricing on chip sets that are falling behind and do not provide premium performance and have not kept up with emerging market trends. .
And they are losing market share because major customers are becoming frustrated with Intel and are beginning to pursue other options that leap frog Intel.
Apple has even developed their own flexible chip set architecture that gives them a single architecture that works for everything from cell phones, watches, tablets, laptops and desktop computers and is adaptable to a wide range of developing applications.
I guess all the cheap, scab Indian H-1b labor the word could not save Intel.
The Israelis saved them last time with the Core2Duo.
Pat is a good engineer.
Hopefully he can dig Intel out of the mess they have been in since Obama placed one of his stooges in as HR manager.
Probably too late to house clean DEI from Intel.
H1b is one of their biggest problems.
Excerpt:
On Monday, it initially seemed like the beginning of the end for Intel’s desktop CPU instability woes — the company confirmed a patch is coming in mid-August that should address the “root cause” of exposure to elevated voltage. But if your 13th or 14th Gen Intel Core processor is already crashing, that patch apparently won’t fix it.-PJCiting unnamed sources, Tom’s Hardware reports that any degradation of the processor is irreversible, and an Intel spokesperson did not deny that when we asked. Intel is “confident” the patch will keep it from happening in the first place. (As another preventative measure, you should update your motherboard BIOS ASAP.) But if your defective CPU has been damaged, your best option is to replace it instead of tweaking BIOS settings to try and alleviate the problems.
And, Intel confirms, too-high voltages aren’t the only reason some of these chips are failing. Intel spokesperson Thomas Hannaford confirms it’s a primary cause, but the company is still investigating. Intel community manager Lex Hoyos also revealed some instability reports can be traced back to an oxidization manufacturing issue that was fixed at an unspecified date last year.
This raises lots of questions. Will Intel recall these chips? Extend their warranty? Replace them no questions asked? Pause sales like AMD just did with its Ryzen 9000? Identify faulty batches with the manufacturing defect?
We asked Intel these questions, and I’m not sure you’re going to like the answers.
The wokeness inside the company is breathtaking. They’re going to lay off up to 19,000 people, and I bet they’re carefully working to make sure that none of the DEI hires are impacted.
I no longer know what the heck they are selling.
Solyndra 2.0
Intel was a huge beneficiary of the highly touted “Biden/Harris Chips Act” last March........an $8.5 billion outright grant (with attendant billion dollar insider bonuses), a $25 billion sweetheart tax incentive (part of Biden/Harris’ cockamamie $11 billion federal “loan program” as they spent trillions of tax dollars).
What did we, the people, get in exchange? Intel this week announced it was laying off 15% of its workforce — 15,000 positions. American taxpayers lost twice: billions of tax dollars and an economy minus thousands of jobs.
Doom has come upon you, upon you who dwell in the land. The time has come! The day is near! There is panic, not joy, on the mountains. I am about to pour out my wrath on you and spend my anger against you. I will judge you according to your conduct and repay you for all your detestable practices. I will not look on you with pity; I will not spare you. I will repay you for your conduct and for the detestable practices among you. Then you will know that it is I the Lord who strikes you. See, the day! See, it comes! Doom has burst forth, the rod has budded, arrogance has blossomed! Ezekiel 7:7-10 (NIV)
You can be sure the Americans will be tossed out the door & the H1Bs will remain employed.
gee!
that’s interesting
thanks
No question.
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