Intel Announces Retirement of CEO Pat Gelsinger
Intel Announces Retirement of CEO Pat Gelsinger
You're viewing a single thread.
Losing 16 billion dollars totally has nothing to do with this at all. Its time for Pat to pursue some creative hobbies at home, enjoy his retirement, and be with his family. There are no American troops in Baghdad, everything is fine, Intel is fine, and will soon be back to doing great things. Just ask Userbenchmark, Intel products are the best in class and highly sought after. nVidia has no real advantage in the AI race, and Intel is just dominating.
That 16 billion is just a brief hiccup, company is totally about to do great.
Maybe now they can forget all the expensive chipmaking and get back to their core business of stock buybacks.
That's probably the real reason. He was going to invest all that money instead of doing more stock buybacks. What an idiot!
With the CHIPS Act funding they can't do stock buybacks.
It just frees up other money for buybacks that they would have had to waste on R&D.
the fact that you have to explain to people that money is fungible...
Well, at least one stupid fucker disagrees with that idea...
This simultaneously made me laugh and sad. Sad because I have heavy investments in Intel.
Well their stock price just jumped up after this announcement.
To less than what it was a month ago.
And more than what it will be next month.
This is the real lesson here and US taxpayer has to now pay for Intel CapEx.
These parasites are able to make "business" decisions that impact all of us with zero accountability.
Clown capitalism and no lessons learned.
Disgusting parasites are enabled here IMHO
The sentiment was not bad. TSMC is a shining example of how fab subsidies can be a good idea, and Intel's fabs going under is bad and basically irreplaceable. Like... I am still happy with my tax dollars taking the risk, and Intel was clearly trying to right the ship when CHIPS was conceived.
But theres clearly rot in Intel. Thats a big difference I guess, as TSMC was built from the ground up (in a time where that was possible) while Intel is already weighed down with its sins.
If we give them billions of dollars, then why are we not taking equity position?
You do understand that shareholders were transferred 100billion dollars over last 20 years?
Why is us taxpayers bailing out their position?
Why Intel needs cash, why doesn't intel issue shares and gut the shareholder?
Eitherway, I am happy that you are satisfied with this transfer. I am not.
Where do you get the 100 billion USD amount from?
AFAIK Intel has received less than $10 billion.sharebuy back is cash transfer to shareholders.
CHIPS act allocated about 34b to be transferred to the corporation.
sharebuy back is cash transfer to shareholders.
That is simply not true, and Intel has only gotten less than $10 billion from CHIPS.
https://www.intel.com/content/www/us/en/newsroom/news/us-chips-act-intel-direct-funding.html
AFAIK they've actually only received 1 billion of that.
Do you understand what a share buyback is?
Original CHIPS allocation was 30-50b, looks like that was a total, intel was allocated 8.5b
https://www.theverge.com/24166234/chips-act-funding-semiconductor-companies
That's just this package Intel among other companies receive other substantial state aid thought, just to be clear within US but also outside.
For example, Germany is giving intel money too lol
Do you understand what a share buyback is?
I absolutely do, the company buys it's own stock.
So if the company has a 1000 dollars, and buy for a 1000 dollars shares, it changes nothing for the remaining stockholders.
And the one who sold his stock, just got market value, nothing more nothing less.
The company now has a 1000 dollars less, but there is also for a 1000 dollars less stock. So the inner value per remaining stock remains the same.Originally when the stock was sold, the money went to the company, when the company buys it back, it's much like paying back a debt. But apart from that, Intel hasn't done any buybacks for more than 3 years.
https://ycharts.com/companies/INTC/stock_buyback
Maybe you misunderstood how it works?
While we're at it, let's go back to 10nm chips too. That's Intel's bread and butter. Phones get bigger every year. Why not transistors too?
userbenchmark should not be trusted.
My comment was dripping with sarcasm, I refer to them as "Loserbenchmark" most anytime they come up. Complete toolbag shill assholes over there, lol.
Are they still posting salt over AMD cpus spanking Intel haha
That shit started in 2017 and it got progressively more pathetic.
AMD wasting money on marketing... sure buddy, cope