Intel loses $1.6 billion as data center CPU and foundry divisions struggle
On Thursday, Intel announced its financial results for the second quarter of 2024, and they weren’t favorable to the chip giant: The company’s revenue dropped by 1% year-over-year while its losses totaled $1.6 billion. Perhaps worse is that Intel expects the second half of the year to be challenging for its business. As a result, Intel announced plans tocut its workforce by a rather whopping 15% this year. Intel’s cuts will be severe....