Chipmakers

Intel Slashes 15% Of Workforce In $10 Billion Overhaul As AI Race Heats Up

Intel is cutting 15% of its workforce as part of a $10 billion cost-reduction plan, the company announced in its second-quarter earnings report on Thursday. CEO Pat Gelsinger outlined the need for significant changes, stating in a memo, “Simply put, we must align our cost structure with our new operating...

European Equities Gain As Chipmakers Rebound On Nvidia’s Projections

European equities saw a slight increase on Thursday following optimistic projections from Nvidia, a leading player in artificial intelligence, which boosted chipmakers worldwide. Investors were also anticipating the release of the latest business surveys to assess the future trajectory of the euro zone economy and potential changes in interest rates....