Pat Gelsinger, Intel’s CEO, stated at the Evercore ISI TMT conference that Chipzilla expects AMD to continue losing market share through 2023. During his presentation, Intel’s CEO discussed how the dramatic changes in the PC market have affected not only his company’s business but also the businesses of other technology companies. He goes on to say that, while their own product execution resulted in negative earnings during the previous quarter, market conditions were the primary driver of the change in outlook. Intel Weiss Intel nvidiaalcorntomhardware.
The release of Intel’s Sapphire Rapids chips has been delayed yet again, with the chips now set to arrive in 2023. While the new chips are “better than the AMD alternatives” in terms of power and performance, and will win in some benchmarks, Gelsinger believes the advantages aren’t significant enough to slow AMD’s progress. As a result, Intel’s data centre business will not grow at the same rate as the market, implying that the company’s market share will continue to decline. Product development takes time, and Intel expects to lose market share to AMD in 2023 and possibly 2024. This is because the competition simply has more momentum in almost every segment. As a result, Pat anticipates that Intel will reclaim its market share by 2025-2026. They’ll hit rock bottom until then and try to keep up with the TAM. Intel dividend.
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Pat stated that Intel is fundamentally rebuilding its execution machine by integrating all of its projects into a consistent development methodology based on the new Palladius PLC model. This will be important in future product generations, but Pat claims that the Sapphire Rapids design began nearly 5 years before Palladius. The products that are already in the design phase, such as Arrow Lake and Lunar Lake for clients and Emerald Rapids and Granite Rapids for servers, will continue to improve over their A0 tapeouts, but it is the product lineup for 2025 and 2026 that will truly benefit from Intel’s new design methodologies.Weiss Intel nvidiaalcorntomhardware.
While it is obvious that Intel will face several difficult years of rebuilding, Gelsinger did mention leadership changes that will help speed up the turnaround. “Seventy percent of the leaders, or leaders minus one,” Gelsinger noted, “are new to the company or new to the role that they’re in.” He also announced the promotion of Shlomit Weiss to senior vice president and Co-GM of the Design Engineering Group. Gelsinger also intends to keep the company’s core competency, logic chips, intact. That means he will continue to be open to exiting additional businesses, as Intel did recently with its Optane business. INTC stock price today per share.
“Obviously, Optane. And man, I sort of joke that Intel exited the memory business 40 years ago, and they’ve just kept making that decision. Right? Well, I’m gonna close that frickin’ door, and we’re gonna stay out of the memory business and really get a cleanliness of our business strategy around logic,” Gelsinger said. “You know, we have a few more that we’ll likely exit as we continue to prune and get more focused.”