Our revenues have not grown as expected - and we've yet to fully benefit from powerful trends, like AI. Our costs are too high, our margins are too low. We need bolder actions to address both - particularly given our financial results and outlook for the second half of 2024, which is tougher than previously expected. - Pat Gelsinger
Intel led the tech industry's revolution around CPU chips roughly 25 years ago, but has been slow to embrace newer waves of computing such as smartphones and AI. Gelsinger says annual revenues at Intel fell $24 billion between 2020 and 2023, despite its workforce growing 10% in the same time frame.
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