Intel to cut more than 15% jobs, suspend dividend in turnaround push

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Intel to cut more than 15% jobs, suspend dividend in turnaround push - Business Standard

Quick Summary:

But we are all asking, 'is it enough' and is it a bit of a late reaction considering that CEO Gelsinger has been at the helm for over three years? " said Michael Schulman, chief investment officer of Running Point Capital.

AI powerhouse Nvidia and smaller rival AMD ticked up after hours, underscoring how well-positioned they were to take advantage of the AI boom."I need less people at headquarters, more people in the field, supporting customers," CEO Pat Gelsinger told Reuters in an interview.

Much of Wall Street's focus has centered around the heavy investments and huge costs incurred by Intel as it builds-out its manufacturing capacity in a bid to compete against Taiwanese contract chipmaking behemoth TSMC.