Reported about 1 month ago
Intel's CEO Pat Gelsinger is set to present a strategic plan to the company's board aimed at divesting non-essential assets and reducing costs to revitalize the struggling chipmaker. The proposal includes potential sales of units such as the programmable chip division Altera, as Intel grapples with declining profits and increasing competition from rivals like Nvidia. Gelsinger's plan also entails a reduction in capital spending, amidst a challenging business environment for the manufacturer. The board meeting scheduled for mid-September is crucial for deciding Intel's future direction.
Source: YAHOO