Intel Faces Tough Road Ahead in AI Market

Weaker earnings and significant layoffs mark a challenging transition for the chipmaker.

Intel reported disappointing Q2 2024 earnings, missing analysts' expectations.
The company plans to cut over 15,000 jobs and slash costs by $10 billion by next year.
Intel aims to compete in the AI sector with its Gaudi accelerators but faces stiff competition from Nvidia.
Shifting wafer production and focusing on AI PCs are part of Intel's long-term growth strategy.
Intel's stock has dropped 30% recently, raising questions about its future performance.