Part 7/9:
As Gelsinger sought to restructure Intel and build two major Foundries in Arizona, alongside upgrades at existing plants across multiple sites, the company faced a grim reality. Their projected customer acquisition failed to materialize, and investor optimism quickly waned.
With over $100 billion poured into the new strategy, Intel made difficult decisions, announcing significant cost cuts and layoffs in an attempt to recover lost ground. By the end of 2024, however, their stock price plummeted to just over $20 and the company slipped into unprofitability.