Asa Fitch

Contract shipmaking is really a customer service business. If your customer wants something, you bend over backwards to make it happen for them. For Intel, they hadn't really been like that. Their customer had been just Intel. They didn't really have that experience. Dealing with those kinds of customers meant that it was just a little bit more difficult to get that business started.

Contract shipmaking is really a customer service business. If your customer wants something, you bend over backwards to make it happen for them. For Intel, they hadn't really been like that. Their customer had been just Intel. They didn't really have that experience. Dealing with those kinds of customers meant that it was just a little bit more difficult to get that business started.

Contract shipmaking is really a customer service business. If your customer wants something, you bend over backwards to make it happen for them. For Intel, they hadn't really been like that. Their customer had been just Intel. They didn't really have that experience. Dealing with those kinds of customers meant that it was just a little bit more difficult to get that business started.

Basically, it's ChatGPT. ChatGPT came along and that leads to a flurry of interest and investment in generative AI, people developing these big AI models. And that in turn leads to huge investments in chips that are needed to build these kinds of models. And those chips are made almost entirely by NVIDIA.

Basically, it's ChatGPT. ChatGPT came along and that leads to a flurry of interest and investment in generative AI, people developing these big AI models. And that in turn leads to huge investments in chips that are needed to build these kinds of models. And those chips are made almost entirely by NVIDIA.

Basically, it's ChatGPT. ChatGPT came along and that leads to a flurry of interest and investment in generative AI, people developing these big AI models. And that in turn leads to huge investments in chips that are needed to build these kinds of models. And those chips are made almost entirely by NVIDIA.

So that was a huge, huge challenge for Intel. When the AI boom really took hold, everything was going to AI chips. And a significantly less amount of money was going to Intel's chips. So there was this dramatic shift that really hurt Intel financially at a time when

So that was a huge, huge challenge for Intel. When the AI boom really took hold, everything was going to AI chips. And a significantly less amount of money was going to Intel's chips. So there was this dramatic shift that really hurt Intel financially at a time when

So that was a huge, huge challenge for Intel. When the AI boom really took hold, everything was going to AI chips. And a significantly less amount of money was going to Intel's chips. So there was this dramatic shift that really hurt Intel financially at a time when

The company really just needed money to build these huge factories that cost billions upon billions of dollars and execute this turnaround plan that Pat had concocted. So it really could not have come at a worse time for Intel.

The company really just needed money to build these huge factories that cost billions upon billions of dollars and execute this turnaround plan that Pat had concocted. So it really could not have come at a worse time for Intel.

The company really just needed money to build these huge factories that cost billions upon billions of dollars and execute this turnaround plan that Pat had concocted. So it really could not have come at a worse time for Intel.

Then, last week... Intel just moments ago announcing that CEO Pat Gelsinger retired effective yesterday.

Then, last week... Intel just moments ago announcing that CEO Pat Gelsinger retired effective yesterday.

Then, last week... Intel just moments ago announcing that CEO Pat Gelsinger retired effective yesterday.

According to someone familiar with what happened... It was retirement, but the circumstances were that the board gave him the option to retire or be removed, and he chose to retire.

According to someone familiar with what happened... It was retirement, but the circumstances were that the board gave him the option to retire or be removed, and he chose to retire.

According to someone familiar with what happened... It was retirement, but the circumstances were that the board gave him the option to retire or be removed, and he chose to retire.

You know, many people were surprised by Gelsinger being ousted because, you know, this is a very ambitious turnaround plan. The company had already invested a lot of resources in making the turnaround work. Intel has been on successive rounds of cost cutting for the past couple of years at this point. They've done layoffs, they've cut costs wherever they can.

You know, many people were surprised by Gelsinger being ousted because, you know, this is a very ambitious turnaround plan. The company had already invested a lot of resources in making the turnaround work. Intel has been on successive rounds of cost cutting for the past couple of years at this point. They've done layoffs, they've cut costs wherever they can.