Intel CEO Pat Gelsinger resigns as company struggles to compete with Nvidia and TSMC

scmp.com

Intel CEO Pat Gelsinger resigned on December 1 after the board lost confidence in his turnaround strategy. Directors felt his ambitious plans were not yielding results quickly enough. Gelsinger's tenure began in 2021, but he faced significant challenges, including lost contracts and unmet production goals. His optimistic projections for AI-chip deals led to a recent revenue forecast revision. The board offered Gelsinger the option to retire or be removed, and he chose to step down. Intel now faces increased competition from Nvidia and TSMC.


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Intel CEO Pat Gelsinger resigns as company struggles to compete with Nvidia and TSMC | News Minimalist