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☆ Meet 2 chip execs reportedly in the running for Intel CEO — one is an outsider
▼ + stars: | 2024-12-04 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

AdvertisementIntel is reportedly considering Lip-Bu Tan and Matt Murphy for CEO after Pat Gelsinger's exit. Murphy leads Marvell, while Tan is a former Intel board member. Cadence Design CEO Lip-Bu Tan is reportedly one of the people being considered to become Intel's CEO. Semiconductor veteran Tan served on Intel's board between 2022 and this year, where he was on the mergers and acquisitions committee. Representatives of Intel, Murphy, and Tan did not respond to requests sent outside business hours.

Persons: Tan, Matt Murphy, Pat Gelsinger's, Intel's, Murphy, Marvell, Pat Gelsinger, Gelsinger, David Zinsner, Michelle Johnston Holthaus, Gaudi, Dibyanshu Sarkar Organizations: Intel, Marvell Technology, Bloomberg, Reuters, Nvidia, Gaudi, Cadence, AFP, Getty, Semiconductor, Walden International, SoftBank, Hewlett Packard Enterprise, Marvell, eBay, Global Semiconductor Alliance Locations: Europe, American

☆ Intel ruled tech. Now it’s in deep trouble
▼ + stars: | 2024-12-04 | by ( Clare Duffy | ) edition.cnn.com time to read: +10 min

At the time, Intel was the world’s largest producer of computer chips, and its technology was housed inside nearly every PC. That means nearly two decades after Grove outlined his vision, Intel is a shell of its former self. And now, investors and company watchers are seriously questioning whether Intel can ever regain its industry-leading position, despite its importance to American chipmaking. And because ARM was ready with the technology, it quickly leapfrogged Intel as the mobile chipmaking leader. Intel CEO Pat Gelsinger delivers a speech at the COMPUTEX forum in Taipei, Taiwan on June 4.

Persons: Andy Grove, Grove, Pat Gelsinger, Gelsinger, ”, Angelo Zino, Shannon Stapleton, Gordon Moore, Intel “, Vivek Arya, “, Edward Jones, Logan Purk, Gelsinger “, ” Zino, Ann Wang, Nvidia —, didn’t, Jensen Huang, it’s “, Huang, Biden, ” Forrester, Alvin Nguyen, Saul Loeb, David Zinsner, Johnston Holthaus, Nguyen, Intel’s, Trump, ” Purk, Zino, ” Frank Yeary Organizations: New, New York CNN, Intel, Dow Jones, Nvidia, CFRA Research, ARM, Apple, Reuters, AMD, ” Bank of America Securities, CNN, Getty, Qualcomm, Foundry Locations: New York, American, Taipei, Taiwan, Ohio, China

☆ Intel's next CEO needs to decide the fate of its chip fabs
▼ + stars: | 2024-12-03 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

As a longtime champion of the company's chip manufacturing efforts, he was reluctant to split it. Amid the broader CEO search, Intel also elevated executive Michelle Johnston Holthaus to CEO of Intel Products and the company's co-CEO. Intel has also outsourced some chip manufacturing to rival TSMC in recent years — which sends a negative signal to the market about its own fabs. AdvertisementIntel is getting CHIPS Act fundingOwnership of the fabs and CHIPS Act funding are highly intertwined. Still, the CHIPS Act remains key to Intel's future.

Persons: Intel's, they're, Pat Gelsinger, Michelle Johnston Holthaus, Analysts, Bernstein, TSMC, Dan Newman, Logan Purk, Edward Jones, Newman Organizations: US, Intel, Bloomberg, Intel Products, Nvidia, AMD, Foundry, Analysts

☆ In an all-hands meeting, Intel's new leaders emphasized outgoing CEO Pat Gelsinger's 'personal decision'
▼ + stars: | 2024-12-02 | by ( Helen Li | Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

AdvertisementIntel CEO Pat Gelsinger is out of the top spot after a challenging 4-year tenure. On Monday morning, Intel employees joined an all-hands meeting after receiving an email invite at 5 a.m. PT. Being CEO of Intel was Pat Gelsinger's dream since he joined the company as a teenager in 1979. But no one at the top has the technical expertise of Gelsinger, which Intel employees pointed out in their questions. No one has been a closer witness to this roller coaster than Intel employees, who have seen multiple waves of layoffs and buyouts.

Persons: Pat Gelsinger, David Zinsner, Michelle Johnston Holthaus, unravels ChatGPT, isn't, Pat Gelsinger's, Alvin Nguyen, Forrester, Gelsinger, Zisner, Holthaus, Intel's, Edward Jones, Said, Frank Yeary, Bernstein, Vivek Arya, Daniel Newman, Logan Purk, Pat, Emma, ecosgrove Organizations: Intel, Bloomberg, Department of Commerce, Nvidia, Gaudi, Bank of America

☆ Intel's CEO steps down as chip maker tries to restore investor confidence
▼ + stars: | 2024-12-02 | by ( Will Martin | ) www.businessinsider.com time to read: 1 min

AdvertisementIntel's longtime CEO Pat Gelsinger is stepping down, the company said in a statement Monday. Gelsinger leaves the chipmaker with immediate effect, vacating his role both as CEO and as a member of the board. AdvertisementTwo senior Intel executives, David Zinsner and Michelle Johnston Holthaus, will take interim charge during the search for a new CEO. Frank Yeary, Intel's chairman, thanked Gelsinger but said the company needed to restore investor confidence. AdvertisementIntel stock has almost halved this year, but rose 6% in premarket trading on Monday.

Persons: Pat Gelsinger, Gelsinger, David Zinsner, Michelle Johnston Holthaus, Frank Yeary, Yeary Organizations: Intel

☆ Intel CEO Pat Gelsinger Steps Down Amid Chipmaker’s Struggles
▼ + stars: | 2024-12-02 | by ( Danielle Kaye | Steve Lohr | ) www.nytimes.com time to read: +1 min

Intel’s chief executive officer, Pat Gelsinger, stepped down after nearly four years leading the semiconductor company, Intel announced Monday, a surprise leadership change as the chipmaker has struggled in recent months. Mr. Gelsinger, who took the helm in 2021, also resigned from the company’s board of directors. He will be replaced in the interim by two Intel executives, David Zinsner and Michelle Johnston Holthaus. Intel recently cut 15,000 jobs, and its revenue declined more than 30 percent from 2021 through 2023. Shares of Intel rose about 5 percent in premarket trading, before paring back some of those gains, after the company announced Mr. Gelsinger’s retirement.

Persons: Pat Gelsinger, Gelsinger, David Zinsner, Michelle Johnston Holthaus, Gelsinger’s Organizations: Intel, Nvidia

☆ Intel's CEO steps down as chipmaker tries to restore investor confidence
▼ + stars: | 2024-12-02 | by ( Will Martin | ) www.businessinsider.com time to read: +1 min

AdvertisementIntel's CEO Pat Gelsinger stepped down on December 1, the company said Monday. Intel's CEO Pat Gelsinger has stepped down, the company said in a statement Monday as the US-based chipmaker struggles to keep up in the global chip war. Gelsinger leaves the chipmaker with immediate effect, vacating his role both as CEO and as a member of the board. Frank Yeary, Intel's chairman, thanked Gelsinger and said the company needed to restore investor confidence. In 2012, he became CEO of cloud-computing firm VMWare, before returning to Intel as CEO in 2021.

Persons: Pat Gelsinger, David Zinsner, Michelle Johnston Holthaus, Frank Yeary, Gelsinger, Yeary Organizations: Intel, Nvidia, EMC, Dell, VMWare

☆ Stocks making the biggest moves premarket: Gap, Tesla, Stellantis and more
▼ + stars: | 2024-12-02 | by ( Pia Singh | In | ) www.cnbc.com time to read: +1 min

Gap — The clothing retail stock jumped 4.7% after JPMorgan upgraded shares to overweight. Stellantis – Shares sank 9% after CEO Carlos Tavares stepped down from his role at the automaker, effective immediately. The company cited "different views" between Tavares and the board of directors as the reason for the departure. Goldman also initiated Commercial Metals Company as a buy, though shares of that company were flat premarket. Hasbro -- The toy and game company's stock ticked up 1.7% as investors monitored the sales results around Black Friday.

Persons: Carlos Tavares, Tavares, Tesla, Pat Gelsinger, David Zinsner, Michelle Johnston Holthaus, Goldman Sachs, Mike Harris, Donald Trump's, Goldman, Stifel, —, Samantha Subin, Jesse Pound, Hakyung Kim nnd Sarah Min Organizations: JPMorgan, Intel, . Steel, —, Commercial Metals Company, Hasbro, Black Locations: Cleveland

☆ Stocks making the biggest moves midday: Super Micro Computer, Tesla, Intel, Stellantis and more
▼ + stars: | 2024-12-02 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Tesla — The electric vehicle stock gained more than 3% after a Roth MKM upgrade to buy from neutral. The firm cited President-elect Donald Trump's close ties with CEO Elon Musk as a positive catalyst for Tesla's brand. Gap — Shares of the clothing retailer moved nearly 7% higher after receiving an upgrade to overweight at JPMorgan. Analyst Mike Harris said both cyclical and structural factors, including Trump's views on trade, could aid earnings growth for the broader industry. Dana — The auto parts manufacturer surged 14% on the heels of Barclays' upgrade to overweight from equal weight.

Persons: Pat Gelsinger, David Zinsner, Michelle Johnston Holthaus, Tesla, Roth, Donald Trump's, Elon Musk, Stellantis, Carlos Tavares, Tavares, Goldman Sachs, Mike Harris, Goldman, Okta, Morgan, Morgan Stanley, Dana —, Yun Li, Sarah Min, Sean Conlon, Alex Harring Organizations: Intel, JPMorgan, Commercial Metals Company —, Metals, Barclays Locations: Cleveland, Commercial Metals Company — Cleveland

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