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The Latest Breaking News from Patrick Gelsinger

Intel to cut executive pay as chip glut wipes out profits across industry

Intel is slashing its CEO pay by 25%—but cuts aren't just limited to executives.

Fortune

Intel gives one of its grimmest forecasts ever, slamming shares

Intel Corp. is forecasting one of the worst quarters in its history, touching off a broader selloff of chips companies as a slowdown in personal-computer sales ravages the industry.

Tribune News Service

Intel shares erase almost all their 2023 gains after poor earnings and a chip glut

“I don't think I've ever seen anything quite like this before”, said one senior semiconductor analyst for Bernstein Research.

Fortune

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Intel CEO Pat Gelsinger Rolls Out Gaming GPU, 13th Gen Intel Core Processor: 'The True Magic Of Technology'

Intel Corp's (NASDAQ: INTC) Innovation 2022 event kicked off Tuesday morning when CEO Pat Gelsinger outlined his vision for the company's future a

Benzinga

Intel Goes On Austerity Drive To Take On Rivals Like TSMC

Intel Corp (NASDAQ: INTC) has paused hiring in the PC desktop and laptop chips division as part of cost-cutting measures, Reuters reports. In its most recent quarter, Intel's client computing group raked $9.3 billion of its $18.4 billion in revenue. Intel could resume some hires within two weeks after the division re-evaluates priorities to…

Benzinga

Davos gathering overshadowed by global economic worries

The risks to the global economy are leading to an increasingly gloomy view of the months ahead as corporate leaders, government officials and other VIPs gather at the World Economic Forum meeting in Davos, Switzerland

The Independent UK

Shareholders Rejected Intel's Top Executive Compensation Just A Month After It Painted Dismal Q2 Outlook

Intel Corp (NASDAQ:INTC) shareholders rejected compensation packages for top executives, including a payout of as much as $178.6 million to CEO Pat Gelsinger. Shareholders cast 1.78 billion votes against executive compensation at the annual meeting. Shareholders cast 921.2 million votes in favor of the compensation. The vote is non-binding. Gelsinger has earned 1,711 times as…

Benzinga

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Warning as PS5, Xbox and Nintendo Switch supplies may be hit due to shortage

Supplies may be affected for two years due to a shortage of chips.

Daily Record

Here's Why Intel CEO Believes Chip Shortage To Last Until 2024

After predicting the global chip shortage would last until 2023, Intel Corporation (NASDAQ: INTC) CEO Pat Gelsinger is now suggesting the shortage could last until at least 2024.

Benzinga

Intel CEO Looks To Meet TSMC On His Asia Visit To Meet Customers, Suppliers

Intel Corp (NASDAQ:INTC) CEO Pat Gelsinger is visiting Asian customers and suppliers in Japan, Taiwan, and India, Bloomberg reports. Gelsinger also looks to meet leading contract chipmaker and client Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM). Intel depends on Tokyo Electron Ltd (OTC:TOELY) for chipmaking equipment. Also Read: Nvidia Weighs Intel As Chip Making Foundry, Intel Shares Its Ambitious…

Benzinga

Here's Why Roblox CEO's Compensation Took A Radical Jump

Roblox Corp (NYSE:RBLX) founder and CEO David Baszucki's compensation package jumped from $6.8 million in 2020 to $232.8 million in 2021. The pay package included a long-term performance award for Baszucki, worth $232.2 million. Baszucki will not get any other direct compensation through 2027. Also Read: Here's How Much Intel CEO Pat Gelsinger Earned…

Benzinga

CEO Pay Increases and Heads for New Record as Pandemic Recedes

Pay increases for U.S. chief executives have gained steam, putting compensation on pace to set a record amid a tight labor market that is also driving pay higher for many of their workers.

Bangkok Post

Here's How Much Intel CEO Pat Gelsinger Earned Versus Average Worker Compensation In 2021

Intel Corp (NASDAQ:INTC) CEO Pat Gelsinger has earned 1,711 times as much as the average worker at the U.S. chipmaker since he joined in February 2021. Former CEO Bob Swan had earned 217 times more than the average Intel employee in 2020. Gelsinger earned $178.6 million in 2021, with stock awards accounting for 79% of…

Benzinga

What's Behind The Move In Intel Stock Today?

Intel Corp (NASDAQ: INTC) shares are trading higher Thursday following several reports the company is in talks with NVIDIA Corp (NASDAQ: NVDA) to assist with chip manufacturing.

Benzinga

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Asharq Al-Awsat

Intel to Announce Details of Europe Investment Plans on Tuesday

Intel plans to announce details on Tuesday of its investment plans for semiconductor research and manufacturing in Europe, hinting that it has finalized locations for new factories. The US chipmaker unveiled plans last September to invest as much as $95 billion in Europe over the next decade, and Chief Executive…

Benzinga

Intel's Autonomous Car Driving Unit Confidentially Files For US IPO

Intel Corp's (NASDAQ:INTC) self-driving car unit, Mobileye, has confidentially filed paperwork for a U.S. IPO, Reuters reports. The IPO could value the Israeli unit at over $50 billion. Intel acquired Mobileye for $15.3 billion in 2017 to fire up rivalry with Nvidia Corp (NASDAQ:NVDA) and Qualcomm Inc (NASDAQ:QCOM) in developing driverless systems for automakers. Intel CEO Pat Gelsinger…

Benzinga

Is Bitcoin A 'Climate Crisis'? Here's What Intel's CEO Says

Intel Corporation (NASDAQ: INTC) CEO Patrick Gelsinger took aim at Bitcoin’s (CRYPTO: BTC) detrimental impact on the environment.

Asharq Al-Awsat

Intel Sees No Big Profit Margin Gains before 2025, Would Mull Consortium for Arm

Intel Corp expects its profit margin to drop this year and then be steady for several years as it invests in new technologies and factories to meet rising chip demand, but added it forecasts climbs from 2025. Intel Chief Executive Pat Gelsinger also said Intel would be interested in participating…

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Asharq Al-Awsat

Intel Sales Hit Record on Chip Demand as Shortage Lingers

Intel on Wednesday said 2021 was a record year for sales at the chipmaker as it navigated unprecedented demand and supply chain constraints. The US-based firm also saw costs rise and margins shrink as it shifted to a more sophisticated line of semi-conductors, analysts noted. "The fourth quarter represented a…

Tribune News Service

Intel CEO 'thrilled to be launching the Silicon Heartland in Ohio'

Intel's promise to invest $20 billion to build two semiconductor plants in Licking County could be just the start for what the Silicon Valley giant has in mind for Greater Columbus, the company's CEO told The Dispatch.

The Guardian - US

Biden emphasizes need for Build Back Better, citing a more just tax system – as it happened

Senator Joe Manchin doomed legislation last month, but there are signs Democrats are seeking to revive parts of it

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