Intel CEO Says Company Has Fallen From 'Top 10' Semiconductor Firms, 'Too Late' To Catch Nvidia in AI

Intel CEO Lip-Bu Tan told employees this week that the company has fallen out of the 'top 10 semiconductor companies' and that it's 'too late' to catch up with Nvidia in AI training technology.

The remarks came as Intel began laying off thousands of workers globally, including 529 in Oregon and several hundred others in California, Arizona and Israel. 'Twenty, 30 years ago, we are really the leader,' Tan said during a conversation broadcast to Intel employees worldwide. 'Now I think the world has changed. We are not in the top 10 semiconductor companies.' Tan said Nvidia's position in AI training is 'too strong' and that customers are giving Intel failing grades.

Intel's market value has dropped to around $100 billion, roughly half its value from 18 months ago, while Nvidia briefly hit $4 trillion on Wednesday. Tan said Intel will instead focus on 'edge' AI that operates directly on devices rather than centralized computers.

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