Former Intel CEO Says Company's Troubles Began Long Before His Tenure

Pat Gelsinger, who was recently ousted as Intel's CEO, has shared his view on when the chipmaker's problems began. According to Gelsinger, the decline started years before he returned to the company in 2021. He said that key technical decisions should not be based only on financial numbers. In the past, Intel's leadership lacked the technical expertise needed to handle major industry changes. The company also focused on returning cash to shareholders instead of making necessary investments for future growth. Gelsinger also pointed out that geopolitical issues now affect semiconductor manufacturing around the world. Intel, once a dominant player in the chip industry, has struggled to keep up with competitors like AMD and TSMC in recent years. Gelsinger's comments come after a turbulent period for the company, which has seen falling revenues and a declining market share. While trying to turn things around, Intel had announced plans to build new factories and invest in advanced chip technology. However, the recovery has been slower than expected. Gelsinger's departure marks the end of a short leadership era, and the company now faces an uncertain future. Analysts will be watching closely to see what steps Intel takes next.