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Intel’s new CEO tells investors: ‘We fell short of your expectations’

  • New Intel CEO Lip-Bu Tan stated that the company fell short of investor expectations in 2024 but is on a path to recovery.
  • Intel reported a $19 billion loss in 2024, attributed to increased capital spending and severance payments from job cuts.
  • Three board members are resigning, with Intel's board potentially reduced to 11 if shareholders approve new members.
  • Advanced Micro Devices Inc. Has been downgraded due to competition with Nvidia in the AI chip market, reflecting severe challenges for the company.
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Invezz broke the news in on Thursday, March 27, 2025.
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