英特尔首席执行官Pat Gelsinger周四在德意志银行科技大会上承认，过去几周英特尔过得非常艰难，公司试图在财报中清晰描绘下一步行动，但市场显然并不买账。Due to its poor financial report, Intel is facing difficulties. According to insiders, Morgan Stanley and Goldman Sachs have begun to provide feasible reform proposals. Intel has not yet decided on specific plans, but it appears to be considering the spin-off or sale of its foundry division, which could be a disruptive change for Intel. The rumored plan is expected to be announced at the September board meeting.
The "Dual English" in the semiconductor industry is not shining but is on a increasingly disparate path.
On one hand, there is NVIDIA, which is supported by Wall Street and continues to climb the market cap peak with the development of artificial intelligence. On the other hand, there is Intel, which is in trouble and its position as a long-term leader cannot hide its declining situation. $Intel (INTC.US)$ In 2021, Intel's revenue was still three times that of NVIDIA; but by 2024, NVIDIA is expected to be twice as much as Intel.
Intel CEO Pat Gelsinger admitted at the Deutsche Bank Technology Conference on Thursday that Intel has had a very difficult few weeks. The company is trying to clearly outline the next steps in its financial report, but the market is clearly not buying it.
What further raises market doubts is the sudden resignation of director Lip-Bu Tan, who was highly anticipated. This means that Intel has lost another top semiconductor industry elite.
According to insiders, Intel is now working with investment banks to discuss various solutions, including the spin-off of its product design and manufacturing business, as well as the suspension or cancellation of certain projects, in order to save the company's financial performance. It emphasizes that the negotiations are still in the early stages and Intel has not taken any major measures yet.
The crisis is imminent.
It is reported that Intel's long-term partners, Morgan Stanley and Goldman Sachs, are providing consultation to the company, and the discussions among investment banks have become urgent after Intel's dismal financial report was released.
Intel reported a cumulative net loss of $1.61 billion in the last quarter, and analysts pessimistically believe there will be even more losses in the future. Earlier this month, Intel also announced plans to lay off approximately 15,000 employees and significantly reduce capital expenditures.
Insiders say Intel's reform plan may be proposed at the September board meeting. Intel declined to comment, while Morgan Stanley and Goldman Sachs did not respond.
One possibility is that Intel may spin off or sell its foundry division, a business that has always been considered a key business of Intel by Gelsinger. He has also expressed his desire to develop it into a globally leading chip department that can rival Taiwan Semiconductor.
This also means that Intel may have to undergo a complete overhaul from architecture to concepts. However, insiders point out that before this major option, Intel will first make some more moderate adjustments, such as postponing the expansion of some projects.
In addition, Intel has reached project financing agreements with Brookfield Infrastructure Partners and Apollo Global Management, which has also helped the company alleviate its immediate concerns.
Nevertheless, Intel's business is still full of challenges. Industry insiders say that unless its foundry business can find more external customers, it will be difficult for it to continue to "muddle" along.
Currently, the company, which is considered one of the gems of the American semiconductor industry, has fallen out of the top ten global chip manufacturers and is one of the worst-performing companies in the PHLX Semiconductor Index in the United States this year. Intel's stock price has fallen nearly 60% so far this year.
Editor/ping