Intel’s Make-or-Break Strategy: Why Data Centers, AI, and Cost-Cutting are Key to Its Future!

Intel Corporation’s third-quarter earnings for 2024 presented a mixed image of its current performance and future prospects. The company reported a revenue of $13.3 billion, which marks a sequential increase and aligns with the upper half of its previously provided guidance. This indicates some resilience in its operational execution and ability to meet market expectations in a challenging economic environment. The CEO, Patrick Gelsinger, highlighted considerable advancements in Intel’s cost reduction initiatives with a committed reduction of more than 15% in workforce and a significant $20 billion slash in capital expenditures relative to initial plans for the year.