Intel missed the chip boom

It’s been a good few years to be in the chip-making business — but Intel missed the memo.

Once the most valuable US semiconductor company, Intel has missed most of the AI wave that has propelled the share prices of its competitors. And now private equity firms and competitors are circling. Late Friday, The Wall Street Journal reported that fellow chipmaker Qualcomm has approached Intel about a potential acquisition, while Apollo is reportedly considering a $5 billion investment as the company embarks on an ambitious turnaround plan.

Intel’s stock has shed more than 56% of its value since 2021, while the broader semiconductor sector has experienced explosive growth. In response, the company announced a series of drastic measures last month, including cutting 15,000 jobs, slashing capital expenditures, and eliminating its annual dividend.

See the full article here.