Intel Shifts Focus to Alternative Events
Intel Corp. (NASDAQ:INTC), currently in the process of cutting jobs and reducing costs to safeguard its dwindling cash reserves, has postponed its Innovation event that was originally scheduled for next month in San Jose, California. This decision reflects the company’s ongoing efforts to streamline operations and manage financial pressures amid a challenging market environment. The postponement of the event highlights Intel’s focus on addressing internal financial challenges before proceeding with major public engagements.
The chipmaker plans to focus on other gatherings, such as webinars, hackathons, and the Intel AI Summit, in place of the Innovation conference, the company said Friday in an emailed statement.
This action comes after a challenging earnings report last week, during which Intel provided a bleak sales forecast and reduced its dividend. The company also plans to eliminate 15% of its workers—a sign that a comeback under Chief Executive Officer Pat Gelsinger is still far off. The annual Innovation event was a key initiative by Gelsinger to regain Intel’s technological supremacy and impact. It was inspired by the Intel Developer Forum, a long-standing conference that previously guided the future of the computer industry.
Featured Image: Megapixl
