Bloomberg Surveillance
Bloomberg Technology Special: Intel CEO Pat Gelsinger
Oct 31, 2024
Pat Gelsinger, CEO of Intel, discusses the company's optimistic fourth-quarter revenue forecast and strategies for regaining market share after a challenging period. He dives into cost-cutting measures and the competitive landscape in semiconductors, particularly regarding AI chips. Gelsinger also highlights the shift toward on-premises AI inference and Intel's advancements in its foundry business. Additionally, he addresses the mixed results in Intel's recent earnings report, focusing on both positives and ongoing challenges in the market.
27:07
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Quick takeaways
- Intel's recent slight revenue recovery, surpassing forecasts, suggests a potential market share regain but highlights ongoing underlying challenges.
- Despite optimistic projections for growth and operational improvements, Intel faces stiff competition in the AI chip sector, trailing rivals like NVIDIA and AMD.
Deep dives
Intel's Progress and Challenges
Intel has recently reported a slight recovery in its financials, with a fourth quarter revenue forecast surpassing analyst expectations, suggesting a potential regaining of market share. However, recent actions such as significant cost-cutting measures, including staff reductions and reduced investor payouts, indicate that the company is still grappling with underlying challenges. Despite a promising outlook for the upcoming quarter, Intel faces obstacles in its AI chip orders, failing to meet projected sales milestones. Analysts remain cautious, suggesting that while investors may feel relief, the broader issues affecting Intel's position in the semiconductor market persist.
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