U.S. Senator Tom Cotton probes Intel board over CEO Lip-Bu Tan's former China links, raises national security concerns amid Cadence scandal
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I expect the real issue here is that Cotton doesn't abide by having a non-white CEO at the helm of a good ol' American company. That said, Cadence was caught with their pants down, and should be punished accordingly.
U.S. Senator probes Intel board over CEO Lip-Bu Tan's former China links —raises national security concerns amid Cadence scandal
Senator Tom Cotton is pressing Intel’s board over CEO Lip-Bu Tan’s past China investments and whether he knew about subpoenas tied to Cadence, his former company, which recently pleaded guilty to selling chip design tools to a Chinese military university during his tenure.
Tom's Hardware (www.tomshardware.com)
Isn’t this the guy who outright said their focus is now short term profitability and cost cutting?
For Intel’s sake, I hope he goes.
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If Apple (or another one of the companies you listed) massively collapsed from their leadership position, it would also be a point of discussion around whether stock buyback was justified.
Mind you, I don't think nationalisation is likely to help Intel or that it is a desirable outcome, I am just sharing the reasoning.
What in the world are you talking about? Intel has not "collapsed"?
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Because Intel was in a hole and has no business distributing so much capital they need, when their entire business is basically intense research and 10 year+ investments.
More specifically, none of those other companies are silicon fabs.
That’s just a small part TBH. They are like a poster child for corporate dysfunction and game of thrones-ish drama in the executive levels, and with Pat gone they are circling the drain.
Still making BILLIONS in profit. I'm not sure what you mean.
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Well then, proof required.
Intel has already received $2.2B in federal grants for chip production
Intel has already received $2.2B in federal grants for chip production | TechCrunch
Less than three months since Intel was awarded $7.68bn in milestone-based federal grants, the company has received $2.2bn of that allotment.
TechCrunch (techcrunch.com)
They got 300m form ohio too...
So your statement above is wrong?
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Isn’t this the guy who outright said their focus is now short term profitability and cost cutting?
For Intel’s sake, I hope he goes.
Yeah for all his shortcomings Pat Gelsinger had the right plan for Intel. But the board wanted to see the numbers go up every quarter -- long-term viability be damned -- and he couldn't do both that and push all of their advanced engineering directives, so something had to give (which in this case was Gelsinger himself).
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What in the world are you talking about? Intel has not "collapsed"?
By all metrics (product performance, market share, capitalization/stock price) they are in free fall and have been for half a decade.
No need to be overly pedantic.
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Intel has already received $2.2B in federal grants for chip production
Intel has already received $2.2B in federal grants for chip production | TechCrunch
Less than three months since Intel was awarded $7.68bn in milestone-based federal grants, the company has received $2.2bn of that allotment.
TechCrunch (techcrunch.com)
They got 300m form ohio too...
So your statement above is wrong?
Opening paragraphs exactly what I said.
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By all metrics (product performance, market share, capitalization/stock price) they are in free fall and have been for half a decade.
No need to be overly pedantic.
Who is being pedantic? I made a single statement of the fact that Intel hasn't collapsed. Where are you getting your info from?
They still make more money than AMD.
They still make more chip income than Huawei.
How have they collapsed?
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Opening paragraphs exactly what I said.
Sure buddy... That's 2.5 billion Intel took in state aid without any equity being issued to the taxpayers.
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Apple, Amazon, Google, Salesforce, Qualcomm, and Broadcom all did the same. Why is this unique to Intel in this situation?
You are right, us tax payer should be getting equity in all of them!
Intel example is just pathetic that's why everyone always dunks of it.
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Still making BILLIONS in profit. I'm not sure what you mean.
Then why is the US taxpyer funding their capex?
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Who is being pedantic? I made a single statement of the fact that Intel hasn't collapsed. Where are you getting your info from?
They still make more money than AMD.
They still make more chip income than Huawei.
How have they collapsed?
I am good man, think whatever you want.
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Who is being pedantic? I made a single statement of the fact that Intel hasn't collapsed. Where are you getting your info from?
They still make more money than AMD.
They still make more chip income than Huawei.
How have they collapsed?
Intel annual net income for 2024 was $-18.756B, a 1210.48% decline from 2023.
Intel annual net income for 2023 was $1.689B, a 78.92% decline from 2022.
Intel annual net income for 2022 was $8.014B, a 59.66% decline from 2021. -
Yeah for all his shortcomings Pat Gelsinger had the right plan for Intel. But the board wanted to see the numbers go up every quarter -- long-term viability be damned -- and he couldn't do both that and push all of their advanced engineering directives, so something had to give (which in this case was Gelsinger himself).
He presided over a ton of dyfucntion too, but yes exactly.
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Then why is the US taxpyer funding their capex?
They aren't?
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Sure buddy... That's 2.5 billion Intel took in state aid without any equity being issued to the taxpayers.
That's Trump's idiotic doing, not the company.
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They aren't?
What is the 2.5 billion in this case here then?
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Intel annual net income for 2024 was $-18.756B, a 1210.48% decline from 2023.
Intel annual net income for 2023 was $1.689B, a 78.92% decline from 2022.
Intel annual net income for 2022 was $8.014B, a 59.66% decline from 2021.Stop asking dumbass chatbots for your info. This is wrong: https://m.macrotrends.net/stocks/charts/INTC/intel/revenue
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That's Trump's idiotic doing, not the company.
That's what biden gave Intel... Trump took the remain 5b.
You don't know what you are talking about. You made several factually incorrect statements within this thread.
You are talking out of your ass. Take the L, got read up om the issue.
Happens to the best of us
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What is the 2.5 billion in this case here then?
The CHIPS act that Trump cancelled for now reason.
