Intel Chief Executive Officer Pat Gelsinger earned 1,711 times as much as the average worker at the US chipmaker in just 11 months since he joined in February last year, a regulatory filing showed on Wednesday. Compared to Gelsinger, former CEO Bob Swan had earned 217 times more than the average Intel employee in 2020. … Read more
Intel has picked Germany as the site for a huge new chipmaking complex, giving the first details of a $88 billion (roughly Rs. 6,70,187 crore) investment drive across Europe, which is striving to cut its reliance on imports and ease a supply crunch for manufacturers. The plan is the latest big investment announcement by a … Read more
Intel on Friday is set to announce it will invest $20 billion (roughly Rs. 1,48,850 crore) in a massive new manufacturing site near Columbus, Ohio to develop and manufacture advanced semiconductor chips, sources briefed on the matter told Reuters. The planned investment includes 3,000 permanent jobs on the 1,000-acre site in New Albany, Ohio. Time magazine, … Read more
Intel Chief Executive Pat Gelsinger plans to attend a virtual White House meeting on the global chip shortage, along with representatives from companies including Apple, Microsoft, Samsung Electronics, GM, Ford, and Stellantis, people familiar with the matter said. The meeting will be hosted by Secretary of Commerce Gina Raimondo and National Economic Council Director Brian … Read more
Intel’s CEO said on Monday it could take several years for a global shortage of semiconductors to be resolved, a problem that has shuttered some auto production lines and is also being felt in other areas, including consumer electronics. Pat Gelsinger told a virtual session of the Computex trade show in Taipei that the work-and-study-from-home … Read more
Intel wants EUR 8 billion ($9.7 billion or roughly Rs. 71,249 crores) in public subsidies towards building a semiconductor factory in Europe, its CEO was cited as saying on Friday, as the region seeks to reduce its reliance on imports amid a shortage of supplies. The pitch is the first time Pat Gelsinger has publicly … Read more
Intel will greatly expand its advanced chip manufacturing capacity as new chief executive Pat Gelsinger announced its IDM 2.0 strategy. The company plans to spend as much as $20 billion (roughly Rs. 1,45,300 crores) to build two factories in Arizona and to open up its factories to outside customers. Gelsinger made the announcement during the … Read more
Chipmaker Intel said on Wednesday it would replace Chief Executive Officer Bob Swan with VMware Inc CEO Pat Gelsinger beginning February 15. The company’s shares were up more than 8 percent in morning trading. Intel, long the world leader in chip-making technology, has lost its manufacturing edge in recent years and is now debating whether … Read more