Intel CEO Pat Gelsinger Steps Down After Turbulent Four-Year Tenure
Intel announces the sudden retirement of CEO Pat Gelsinger amid declining revenues and manufacturing challenges, despite securing billions in CHIPS Act funding. The company has appointed interim co-CEOs while searching for a permanent successor to lead its ongoing transformation efforts.
Intel Secures Record $7.9B CHIPS Act Grant for US Semiconductor Expansion
The US Department of Commerce awards Intel nearly $8 billion in CHIPS Act funding to boost domestic semiconductor manufacturing across multiple states. The historic investment aims to create 30,000 jobs while strengthening America's chip production capabilities and reducing foreign dependencies.
Intel's Struggle: US Officials Weigh Government Intervention for Chip Giant
As Intel faces financial challenges, US policymakers consider supporting the largest American chip manufacturer. The company's strategic importance in maintaining a competitive US semiconductor ecosystem has prompted discussions about potential government intervention.