Intel CEO Gelsinger says he respects 'skepticism' from investors as chipmaker's struggles persist
Publishing timestamp: 2024-08-29 18:27:48
Summary
Intel CEO Pat Gelsinger acknowledges skepticism from the market regarding the company's turnaround efforts after a brutal earnings report. Despite challenges, Gelsinger expresses optimism about the future and announces the upcoming launch of Lunar Lake, an AI PC product. Intel's stock rose following Gelsinger's comments, and the company is working with advisors to fend off activist investor scrutiny. Intel recently announced layoffs and portfolio cuts in an effort to improve performance.
Sentiment: MIXED
Tickers: INTC,
Keywords: intel corp, breaking news: business, pat gelsinger, mergers and acquisitions, breaking news, activism, business news, business,
Source: https://www.cnbc.com/2024/08/29/intel-intc-gelsinger-skepticism-activist-layoffs.html