Intel has lost almost 60 percent of its market value this year. The once undisputed star of the industry has now not only fallen behind the new darling of investors thanks to AI, Nvidia. The latter is currently valued at more than three trillion US dollars on the stock market and thus costs 35 times as much as the former champion. Other previously much smaller industry representatives such as AMD, Broadcom, Qualcomm and Texas Instruments have now also overtaken Intel, at least on the stock market.
The company announced massive job cuts at the beginning of the month. CEO Pat Gelsinger wants to turn things around with new production processes for more efficient chips, but still has a lot of work to do. The manager described the business figures for the last quarter as “disappointing.” And the situation in the second half of the year will also be more difficult than previously expected. Gelsinger had previously often put investors off until the second half of the year, when things were expected to improve.
Most recently, the company announced on Thursday the departure of Lip-Bu Tan from Intel’s board of directors. He had only joined the board two years ago. Tan asserted that his withdrawal was a result of a change in the priorities of his numerous commitments and that he would continue to support Intel.
Investors seem to approve of an activist investor’s attempt to exert influence. Intel’s share price rose by one percent in after-hours trading in an initial reaction./he
