The US tech industry is undergoing a significant transformation due to the rise of AI, leading to substantial layoffs at major companies like Intel, M

Intel CEO Lip-Bu Tan announces 15% job cuts and cancels expansion plans as the company refocuses on core products, cost control, and execution.

Lip-Bu Tan seemingly also said that "we are not in the top 10 semiconductor companies" any longer - a frank admission indeed.

Key Points Intel scaled back its AI accelerator ambitions earlier this year.The company now appears to be refocusing on AI inference, admitting that Nvidia's lead is just too great.Intel could find success in this portion of the AI market,

Intel is going to end the year with a workforce that is over a fifth smaller than last year, it said on Thursday, and new CEO Lip Bu Tan presented a blueprint for a more cost-disciplined, streamlined chipmaker that would issue "no more blank checks.

Artificial intelligence companies are largely cheering President Trump’s “AI Action Plan” issued this week — no surprise, since it reduces regulations to make it easier for them to make money.

Intel’s stock jumped early in 2025 as optimism built around new leadership, but shares fell over 9% after Thursday’s Q2 earnings and layoff announcement, threatening to erase most yearly gains.

Intel shares sank 8% on Friday after the company warned of exiting chip manufacturing if it fails to secure a major customer, a potentially drastic move by the new CEO to cut spending and revive the struggling American icon.

Intel said Thursday it has mostly completed plans it announced last quarter to cut 15% of its workforce, as the struggling chipmaker attempts a turnaround.

Intel Corp. tumbled in premarket trading after Chief Executive Officer Lip-Bu Tan sparked concerns that he was more focused on cost cutting than restoring the chipmaker’s technological edge.

Intel might be gearing up to change the way desktop PCs handle AI. According to rumors and recent leaks, the company’s next big move could be centered around bringing its advanced AI capabilities, specifically