Intel Seeks Morgan Stanley's Aid to Brace for Potential Activist Investors as It Falls Behind Major AI Competitors
Intel is working with advisors, including Morgan Stanley, to defend itself against potential activist investors. Although no formal activist campaign has been launched, Intel's challenges have intensified. The company is losing its position as the largest U.S. chipmaker by revenue to Nvidia. Intel has also lagged behind competitors like AMD, Broadcom, Qualcomm, and Texas Instruments. The company recently announced a significant workforce reduction as part of a $10 billion cost-cutting plan, and it is grappling with missing out on the AI and smartphone booms.
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00:00It's Benzinga, and here's what's on the block.
00:03Intel is working with advisors, including Morgan Stanley, to defend itself against potential
00:07activist investors.
00:09Although no formal activist campaign has been launched, Intel's challenges have intensified.
00:13The company is losing its position as the largest U.S. chipmaker by revenue to NVIDIA.
00:18Intel has also lagged behind competitors like AMD, Broadcom, Qualcomm, and Texas Instruments.
00:23The company recently announced a significant workforce reduction as part of a $10 billion
00:28cutting plan, and it is grappling with missing out on the AI and smartphone boom.
00:32For all things money, visit Benzinga.com.