Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Friday, August 30, 2024
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

Intel working with bankers to present board with strategic options

August 30, 2024
in News
Reading Time: 2 mins read
A A
Intel working with bankers to present board with strategic options
0
SHARES
ShareShareShareShareShare

READ ALSO

Euro zone inflation, August 2024

China’s Zeekr to launch first electric SUV, priced to undercut Tesla’s Model Y

Pat Gelsinger, CEO Intel, speaking on CNBC’s Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024.

Adam Galici | CNBC

Intel executives are working with multiple advisors to formulate options to address its flagging business, according to a person with knowledge of the matter.

Those advisors, which include Morgan Stanley and other bankers, will likely present Intel’s directors with options at an upcoming board meeting in September, said the person, who requested anonymity to discuss confidential matters. The advisors are considering a full range of options, including splitting off and selling businesses, the person said.

Bloomberg News first reported that the company was working with its advisors to come up with strategic options. Representatives for Intel didn’t immediately respond to a CNBC request for comment. A spokesperson for Morgan Stanley declined to comment.

Intel shares rose more than 4% on the report in Friday pre-market trading.

CEO Pat Gelsinger acknowledged publicly on Thursday that the company understood investor skepticism and was working to address it.

“We realize we have to operate efficiently with nimbleness, with urgency,” Gelsinger said at Deutsche Bank’s Technology Conference. CNBC previously reported that some advisors, including Morgan Stanley, were helping the company on activism defense.

Intel remains on track to launch its next iteration of its laptop central processor, Lunar Lake, Gelsinger said at the appearance. But investors don’t see a turnaround on the horizon, and have pushed the stock down almost 60% this year.

The once-dominant company has been trounced primarily by Nvidia, which produces the graphics processing units (GPUs) that are are the heart of today’s prominent AI models.

Alongside a disastrous earnings report earlier this month, Intel announced it would lay off 15,000 workers. The job cuts, part of a broader focus on slashing expenses, did little to assuage investor dismay. And while Gelsinger said Thursday that the company’s foundry business had roughly a dozen interested customers, the buildout remains costly for Intel.

WATCH: Tailwinds for AI infrastructure

Intel working with bankers to present board with strategic options

Credit: Source link

ShareTweetSendSharePin
Previous Post

To Identify Net Zero Levers, a Holistic Approach Grounded in Data is Key 

Next Post

NHL world reacts to shocking death of Johnny Gaudreau, brother Matthew: ‘Lost one of the best’

Related Posts

Euro zone inflation, August 2024
News

Euro zone inflation, August 2024

August 30, 2024
China’s Zeekr to launch first electric SUV, priced to undercut Tesla’s Model Y
News

China’s Zeekr to launch first electric SUV, priced to undercut Tesla’s Model Y

August 30, 2024
China’s drivers fret about robotaxi push. Experts say there will be new jobs
News

China’s drivers fret about robotaxi push. Experts say there will be new jobs

August 30, 2024
Elon Musk attacks Brazil’s top judge as X faces ban, Starlink finances frozen
News

Elon Musk attacks Brazil’s top judge as X faces ban, Starlink finances frozen

August 30, 2024
Affirm shares surge 32% for best day in three years on earnings beat
News

Affirm shares surge 32% for best day in three years on earnings beat

August 30, 2024
A tale of tier 2 cities
News

A tale of tier 2 cities

August 29, 2024
Next Post
NHL world reacts to shocking death of Johnny Gaudreau, brother Matthew: ‘Lost one of the best’

NHL world reacts to shocking death of Johnny Gaudreau, brother Matthew: ‘Lost one of the best’

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

Jets’ Tyler Conklin finding more of a rhythm with Aaron Rodgers

Jets’ Tyler Conklin finding more of a rhythm with Aaron Rodgers

August 23, 2024
Tech stocks in Asia fall amid broad declines in the region after Nvidia results

Tech stocks in Asia fall amid broad declines in the region after Nvidia results

August 29, 2024
Sahm rule creator doesn’t think that the Fed needs an emergency rate cut

Sahm rule creator doesn’t think that the Fed needs an emergency rate cut

August 7, 2024
Japan’s yen has seen wild swings this year — is it still a safe-haven asset?

Japan’s yen has seen wild swings this year — is it still a safe-haven asset?

August 23, 2024
Chinese EV maker Xpeng shares pop 6% after its mass-market car launch

Chinese EV maker Xpeng shares pop 6% after its mass-market car launch

August 28, 2024
Luis Severino roughed up by Twins as Mets fail to finish sweep

Luis Severino roughed up by Twins as Mets fail to finish sweep

July 31, 2024
Elon Musk supports California AI safety bill

Elon Musk supports California AI safety bill

August 27, 2024

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • NHL world reacts to shocking death of Johnny Gaudreau, brother Matthew: ‘Lost one of the best’
  • Intel working with bankers to present board with strategic options
  • To Identify Net Zero Levers, a Holistic Approach Grounded in Data is Key 
  • Hyundai is planning to build its wild N Vision 74 concept EV

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In