Intel Cuts Thousands of Jobs in 'Marathon' Bid to Challenge NVIDIA and AMD in AI
Intel is laying off thousands of US and Israeli employees as part of a drastic $1.5 billion cost-cutting initiative, with CEO Lip-Bu Tan admitting the company lags behind NVIDIA and AMD in AI hardware. The restructuring shifts focus to edge AI and local processing, but follows a $16.6 billion quarterly loss and underwhelming product launches. This move highlights Intel's struggle to reclaim semiconductor leadership amid an AI boom dominated by rivals.