22 articles | last updated: Sep 21 14:00:29
Intel announces layoffs, foundry spin-off, and new Amazon deal as it navigates declining market share and potential acquisition by Qualcomm.
- Intel has announced the separation of its manufacturing division into an independent subsidiary, aiming to attract new customers and raise outside capital.
- Qualcomm has approached Intel about a potential takeover, which could face significant antitrust scrutiny in the current political climate.
- The company plans to lay off 15,000 employees, or more than 15% of its workforce, as it continues to struggle with declining revenue and market share.
- Intel has secured a new deal with Amazon to produce AI fabric chips, marking an effort to capture a share of the booming AI market.
- Despite government backing and substantial CHIPS Act funding, Intel faces challenges in competing with industry giants like Nvidia and TSMC.
People, Places and Things In This Story
- Intel Semiconductor corporation
- TSMC Semiconductor manufacturing company
- Qualcomm Semiconductor company
- Nvidia Software company
- Artificial intelligence Field of study
- Amazon.com E-commerce company
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