The Big Take
Intel Has Only Tough Options After Its Long and Stinging Fall From Grace
CEO Pat Gelsinger’s plan to spend the chipmaker back to relevance nears the end of its runway.
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A slow-motion disaster at one of the most important companies in the modern technology industry is reaching a pivotal moment this week.
Over three days of meetings that began Tuesday, Intel Corp.'s board has been weighing how to move forward after an Aug. 1 earnings report in which Intel showed disappointing growth, shared a forecast that fell far short of Wall Street estimates, and announced plans to slash 15,000 jobs. The abysmal results sent share prices plummeting and shattered the last vestiges of confidence in a turnaround plan that Pat Gelsinger began when he took over as chief executive officer in 2021.