[Intel's CEO Pat Gelsinger has resigned] Leadership Transition: The unexpected resignation of CEO Pat Gelsinger after a difficult tenure highlights the instability at the top of the company.
Intel's CEO Pat Gelsinger has resigned after a challenging tenure, marking a significant shift for the once-dominant chipmaker. Gelsinger's departure comes as Intel struggles to keep pace with rivals in the rapidly evolving AI chip market. ## Gelsinger's Tenure and Intel's Challenges Intel CEO Pat Gelsinger delivers a speech at Taipei Nangang Exhibition Center during Computex 2024, in Taipei on June 4, 2024. Gelsinger returned to Intel as CEO in February 2021, tasked with revitalizing the company amid fierce competition and production delays. Despite his efforts, Intel's prospects continued to decline: - **Stock Performance**: Intel's stock plunged 61% during Gelsinger's tenure. - **AI Boom**: The company missed the AI boom, falling behind competitors like Nvidia. - **Cost-Cutting Measures**: In August, Intel announced a 15% staff layoff as part of a plan to cut $10 billion in costs. ## Market Shift and Nvidia's Rise The AI revolution, sparked by innovat...