US chip maker Intel says revenue rose as it cut ranks

Silicon Valley spot shaper Intel says it chopped astir 15 percent of its 'core workforce' successful the precocious ended quarter. Photo: JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA/Getty Images via AFP
Source: AFP

Intel connected Thursday posted quarterly gross that topped marketplace expectations, saying it has chopped astir 15 percent of its workforce to beryllium "more agile."

The US spot shaper besides said it "will nary longer determination forward" with projects successful Germany and Poland arsenic portion of a propulsion to prevention billions of dollars.

The struggling spot maker's net study came arsenic rivals specializing successful graphics processing units (GPUs) for artificial quality thrive owed to accelerated adoption of the technology.

Intel is 1 of Silicon Valley's astir iconic companies, but its fortunes person been eclipsed by Asian powerhouses TSMC and Samsung, which predominate the made-to-order semiconductor business.

The institution was besides caught by astonishment with the emergence of Nvidia arsenic the world's preeminent AI spot provider.

Intel's niche has been successful chips utilized successful accepted computing processes, steadily being eclipsed by the AI revolution.

Intel reported $12.9 cardinal successful income successful the precocious ended quarter, topping forecasts, but logged a $2.9 cardinal nonaccomplishment that included $1.9 cardinal successful restructuring charges.

"Intel has completed the bulk of the planned headcount actions it announced past 4th to trim its halfway workforce by astir 15 percent," the institution said successful an net release.

"These changes are designed to make a faster-moving, flatter and much agile organization."

Intel shares were down somewhat successful after-hours trades that followed the merchandise of the net figures.

Intel main enforcement Lip-Bu Tan took the helm successful March, announcing layoffs arsenic White House tariffs and export restrictions muddied the market.

Malaysia-born tech industry seasoned Tan has said it "won't beryllium easy" to flooded challenges faced by the company.

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Source: AFP