Holy shit balls is Intel (INTC) Fucked?

[Dahobbs 17812]

26 minutes ago, Captainant said:

I've been hearing scuttlebutt that the new Intel mobile chips will have "ARM-like efficiency" so maybe their big bet on their own fabs will pay off yet

See the article I posted earlier on Intel's presentation of Lunar Lake. If there claims are accurate, it appears they are targeting Apple M3 in terms of performance efficiency, at least at the operating range for the thin and light devices these chips would be used in. It also appears to be a really big jump in GPU performance, allegedly surpassing AMD's latest and greatest integrated efforts.  

Edited September 4 by Dahobbs

[immamac 43566]

The compute tiles are TSMC not intel. 

[Dahobbs 17812]

9 minutes ago, immamac said:

The compute tiles are TSMC not intel. 

Yeah, I mentioned that earlier. I see that is something that has been known for a couple of months, but I missed it when it came out. 

[52-80 19279]

Rumors of Intel getting kicked out of the DJIA.  That would hurt it even further due to outflows from index and fund investing. It and Boeing are the 2 absolute dogs on the list in terms of financial performance but also stock and consumer sentiment.

[hornbri 1467]

Stock up 7% on news of a deal with Amazon. 

https://abcnews.go.com/Business/wireStory/intel-stock-surges-plans-make-ai-chips-amazon-113751080

 

[immamac 43566]

Just now, hornbri said:

Stock up 7% on news of a deal with Amazon. 

https://abcnews.go.com/Business/wireStory/intel-stock-surges-plans-make-ai-chips-amazon-113751080

 

Among other things. They are splitting the fab and allowing outside investment in the spinco. 

[Dahobbs 17812]

1 hour ago, immamac said:

Among other things. They are splitting the fab and allowing outside investment in the spinco. 

Yeah, a subsidiary that can take in additional investors makes a lot more sense than the rumor of them selling off the fabs entirely. Intel retains control (presumably wouldn't let ownership get deluded below that point), but can bring in fresh investors more easily. It would also allow a separate leadership team to be more laser focused on the foundry business. 

[Wiler77 1586]

https://seekingalpha.com/article/4722537-intel-not-worth-the-90-billion-price-tag-for-qualcomm

Thought this was an interesting article on establishing a valuation for a potential merger with Qualcomm. I don't think there's a chance in he'll of that happening, but interesting nonetheless.

[elfenix 34386]

heard the qualcomm news on marketplace this afternoon and literally said 'wut' out loud.

[Blotto 23704]

Dont know what to think about this news. He went all in on 18A, so to leave this suddenly with no named successor and before the realization (good or bad)of his efforts is a bit odd. Stock is up slightly after the announcement so the market isnt spooked yet. 

Quote

Intel Corporation (NASDAQ: INTC) today announced that CEO Pat Gelsinger retired from the company after a distinguished 40-plus-year career and has stepped down from the board of directors, effective Dec. 1, 2024.

Intel has named two senior leaders, David Zinsner and Michelle (MJ) Johnston Holthaus, as interim co-chief executive officers while the board of directors conducts a search for a new CEO. Zinsner is executive vice president and chief financial officer, and Holthaus has been appointed to the newly created position of CEO of Intel Products, a group that encompasses the company’s Client Computing Group (CCG), Data Center and AI Group (DCAI) and Network and Edge Group (NEX). Frank Yeary, independent chair of the board of Intel, will become interim executive chair during the period of transition. Intel Foundry leadership structure remains unchanged.

https://www.businesswire.com/news/home/20241202016400/en/Intel-Announces-Retirement-of-CEO-Pat-Gelsinger

[immamac 43566]

Seems like he said fuck you guys I got chips act over the line its not my problem anymore and peaced out. 

No transition. 

[Captainant 27973]

9 minutes ago, immamac said:

Seems like he said fuck you guys I got chips act over the line its not my problem anymore and peaced out. 

No transition. 

He's just an MBA trying to run a complicated chip company! You cant expect him to make long term decisions for the good of the company - HES A SHAREHOLDER GODDAMNIT! They've gotta get paid!

That's why Intel bought back billions in their own shares instead of investing in their process, and had to beg for corporate welfare

Shareholder supremacy tends to rot a company away

Edited 5 hours ago by Captainant

[Wiler77 1586]

Holy shitballs.  Didn't see this one coming.

[immamac 43566]

3 minutes ago, Captainant said:

He's just an MBA trying to run a complicated chip company! You cant expect him to make long term decisions for the good of the company - HES A SHAREHOLDER GODDAMNIT! They've gotta get paid!

That's why Intel bought back billions in their own shares instead of investing in their process, and had to beg for corporate welfare

Shareholder supremacy tends to rot a company away

That's not gelsinger, he was a very well respected engineer and by far the most technical CEO in a long time. It's why the stock got punished. 

[Captainant 27973]

6 minutes ago, immamac said:

That's not gelsinger, he was a very well respected engineer and by far the most technical CEO in a long time. It's why the stock got punished. 

Ah fair enough, he tried to stop the trend of buybacks when he took the helm in 2021 - and he got punished for it. But it's not the technical folks driving the ship at Intel, and it hasn't been for pretty much the whole 21st century 

Edit: and that he's been pushed out effective immediately tells me this was not a planned or coordinated exit. Dude got axed 

Edited 5 hours ago by Captainant

[Blotto 23704]

9 minutes ago, Captainant said:

Ah fair enough, he tried to stop the trend of buybacks when he took the helm in 2021 - and he got punished for it. But it's not the technical folks driving the ship at Intel, and it hasn't been for pretty much the whole 21st century 

Edit: and that he's been pushed out effective immediately tells me this was not a planned or coordinated exit. Dude got axed 

Yeah, he spent too much time at Intel to fuck them over, and a 7:30AM press release that the CEO is "retiring" at the age of 63 is not how Intel would do shit. I suspect we'll hear more in the coming weeks. 

[Wiler77 1586]

17 minutes ago, immamac said:

That's not gelsinger, he was a very well respected engineer and by far the most technical CEO in a long time. It's why the stock got punished. 

Agreed, and he was at Intel when it used to be an engineering company.  It's why I gave him a chance to turn it around albeit I knew it would take time.

This is nuts and I assume details will start to come out at some point.  I hope he's not sick.