There is no joy in Intel’s corporate headquarters. The company has had an epically horrible year, with widespread issues plaguing its flagship chips, massive upswings from rivals AMD and Nvidia, and a stock downturn so dramatic it’s been called one of the worst performers in the industry.

Pat Gelsinger's departure leaves Intel at a crossroads, forcing the company to confront cultural stagnation, x86's decline, and growing competition from Arm, AI, and TSMC. Here's what could come next.

Intel on Monday announced the retirement of chief executive Pat Gelsinger. The move, which was effective Sunday, comes as the U.S. chipmaker struggles to keep up in the hypercompetitive semiconductor market and as its stock price has tumbled.

Cherney and Stephen Nellis (Reuters) -Intel Chief Executive Pat Gelsinger has stepped down less than four years after taking the helm of the company, handing control to two lieutenants as the faltering American chipmaking icon searches for a permanent replacement.

Intel Corp. Chief Executive Officer Pat Gelsinger, who was hired in 2021 to lead an ambitious turnaround of the iconic chipmaker, will leave the job after the comeback sputtered and the company fell further behind rivals.

By Stephen Nellis (Reuters) -Intel Chief Executive Pat Gelsinger has stepped down less than four years after taking the helm of the company, handing control to two lieutenants as the faltering American chipmaking icon searches for a permanent replacement.