Latest news with #LipBuTan
Yahoo
12 hours ago
- Business
- Yahoo
Exclusive-Intel's top strategy officer to depart this month
By Jeffrey Dastin, Stephen Nellis and Max A. Cherney (Reuters) -Intel's top strategy executive, Safroadu Yeboah-Amankwah, is departing the company, the latest change since Lip-Bu Tan took the chipmaker's helm in March, two people familiar with the matter told Reuters. Intel confirmed the departure, saying, "We are grateful for Saf's contributions to Intel and wish him the best." Yeboah-Amankwah, who has served as Intel's chief strategy officer since 2020, is leaving on June 30, said the two people, who spoke on condition of anonymity. Yeboah-Amankwah has overseen growth initiatives, strategic partnerships and equity investments for Intel, among other responsibilities. Some of Yeboah-Amankwah's strategy functions will now fall to Sachin Katti, whom Intel recently elevated to chief technology and AI officer. Intel Capital, the company's venture arm, is reporting up to Tan, said one of the two people and a third source briefed on the matter. Tan is a prolific investor and founded San Francisco-based venture capital firm Walden International in 1987. As Intel's CEO, Tan so far has flattened the semiconductor giant's leadership team and taken direct oversight of its important data center and AI chip group, plus its personal-computer chip group. He has brought in new engineering leaders. He has also aimed to cut what he viewed as Intel's bloated, slow-moving middle-management layer. Tan's moves follow years of manufacturing challenges at Intel and lost opportunity for mobile phone and AI chips. His predecessor, Pat Gelsinger, attempted an ambitious turnaround though he compounded some of Intel's problems, Reuters previously reported. Intel reported an annual net loss attributable to the company - its first since 1986 - of $18.8 billion in 2024.
CNA
12 hours ago
- Business
- CNA
Exclusive-Intel's top strategy officer to depart this month
Intel's top strategy executive, Safroadu Yeboah-Amankwah, is departing the company, the latest change since Lip-Bu Tan took the chipmaker's helm in March, two people familiar with the matter told Reuters. Intel confirmed the departure, saying, "We are grateful for Saf's contributions to Intel and wish him the best." Yeboah-Amankwah, who has served as Intel's chief strategy officer since 2020, is leaving on June 30, said the two people, who spoke on condition of anonymity. Yeboah-Amankwah has overseen growth initiatives, strategic partnerships and equity investments for Intel, among other responsibilities. Some of Yeboah-Amankwah's strategy functions will now fall to Sachin Katti, whom Intel recently elevated to chief technology and AI officer. Intel Capital, the company's venture arm, is reporting up to Tan, said one of the two people and a third source briefed on the matter. Tan is a prolific investor and founded San Francisco-based venture capital firm Walden International in 1987. As Intel's CEO, Tan so far has flattened the semiconductor giant's leadership team and taken direct oversight of its important data center and AI chip group, plus its personal-computer chip group. He has brought in new engineering leaders. He has also aimed to cut what he viewed as Intel's bloated, slow-moving middle-management layer. Tan's moves follow years of manufacturing challenges at Intel and lost opportunity for mobile phone and AI chips. His predecessor, Pat Gelsinger, attempted an ambitious turnaround though he compounded some of Intel's problems, Reuters previously reported. Intel reported an annual net loss attributable to the company - its first since 1986 - of $18.8 billion in 2024.
Reuters
13 hours ago
- Business
- Reuters
Exclusive: Intel's top strategy officer to depart this month
June 27 (Reuters) - Intel's top strategy executive, Safroadu Yeboah-Amankwah, is departing the company, the latest change since Lip-Bu Tan took the chipmaker's helm in March, two people familiar with the matter told Reuters. Intel confirmed the departure, saying, "We are grateful for Saf's contributions to Intel and wish him the best." Yeboah-Amankwah, who has served as Intel's chief strategy officer since 2020, is leaving on June 30, said the two people, who spoke on condition of anonymity. Yeboah-Amankwah has overseen growth initiatives, strategic partnerships and equity investments for Intel, among other responsibilities. Some of Yeboah-Amankwah's strategy functions will now fall to Sachin Katti, whom Intel recently elevated to chief technology and AI officer. Intel Capital, the company's venture arm, is reporting up to Tan, said one of the two people and a third source briefed on the matter. Tan is a prolific investor and founded San Francisco-based venture capital firm Walden International in 1987. As Intel's CEO, Tan so far has flattened the semiconductor giant's leadership team and taken direct oversight of its important data center and AI chip group, plus its personal-computer chip group. He has brought in new engineering leaders. He has also aimed to cut what he viewed as Intel's bloated, slow-moving middle-management layer. Tan's moves follow years of manufacturing challenges at Intel and lost opportunity for mobile phone and AI chips. His predecessor, Pat Gelsinger, attempted an ambitious turnaround though he compounded some of Intel's problems, Reuters previously reported. Intel reported an annual net loss attributable to the company - its first since 1986 - of $18.8 billion in 2024.
Yahoo
13 hours ago
- Business
- Yahoo
Exclusive-Intel's top strategy officer to depart this month
By Jeffrey Dastin, Stephen Nellis and Max A. Cherney (Reuters) -Intel's top strategy executive, Safroadu Yeboah-Amankwah, is departing the company, the latest change since Lip-Bu Tan took the chipmaker's helm in March, two people familiar with the matter told Reuters. Intel confirmed the departure, saying, "We are grateful for Saf's contributions to Intel and wish him the best." Yeboah-Amankwah, who has served as Intel's chief strategy officer since 2020, is leaving on June 30, said the two people, who spoke on condition of anonymity. Yeboah-Amankwah has overseen growth initiatives, strategic partnerships and equity investments for Intel, among other responsibilities. Some of Yeboah-Amankwah's strategy functions will now fall to Sachin Katti, whom Intel recently elevated to chief technology and AI officer. Intel Capital, the company's venture arm, is reporting up to Tan, said one of the two people and a third source briefed on the matter. Tan is a prolific investor and founded San Francisco-based venture capital firm Walden International in 1987. As Intel's CEO, Tan so far has flattened the semiconductor giant's leadership team and taken direct oversight of its important data center and AI chip group, plus its personal-computer chip group. He has brought in new engineering leaders. He has also aimed to cut what he viewed as Intel's bloated, slow-moving middle-management layer. Tan's moves follow years of manufacturing challenges at Intel and lost opportunity for mobile phone and AI chips. His predecessor, Pat Gelsinger, attempted an ambitious turnaround though he compounded some of Intel's problems, Reuters previously reported. Intel reported an annual net loss attributable to the company - its first since 1986 - of $18.8 billion in 2024. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Verge
2 days ago
- Automotive
- The Verge
Intel is closing its automotive chipmaking business
Intel is shutting down its business dedicated to making processors for cars. In a memo seen by The Oregonian, Intel tells workers that it plans to lay off 'most' employees in the division, citing plans to shift focus to its 'core client and data center portfolio.' 'As part of this work, we have decided to wind down the automotive business within our client computing group,' Intel writes in the memo. 'We are committed to ensuring a smooth transition for our customers.' Intel didn't immediately respond to The Verge's request for comment. Over the years, Intel has invested heavily in its automotive business, which builds chips that power a car's infotainment system, instrument clusters, and other controls. Intel's technology runs in more than 50 million vehicles, and up until now, it seemed set on expanding its reach. Last year, it announced new AI-enhanced chips for cars that will help improve a vehicle's navigation system and voice assistant. It revealed plans to bring its Arc GPU to cars as well. Intel also acquired the self-driving car technology company Mobileye for $15 billion in 2017. Mobileye later went public as a standalone company, but Intel still owns a majority stake. Intel's newly appointed CEO, Lip-Bu Tan, said in April that the company would need to 'reduce the size' of its workforce in the second quarter of 2025 as part of plans to get the chipmaker back on track. The company also informed employees of layoffs coming to its foundry business as well, according to The Oregonian, and a recent WARN (Worker Adjustment and Retraining Notification) notice in California suggests layoffs impacting 107 employees at its Santa Clara headquarters.
