Intel CEO Pat Gelsinger Retires Amidst AI Challenges, Stock Rises

Intel CEO Pat Gelsinger has retired, effective December 1, with David Zinsner and Michelle Johnston Holthaus named interim co-CEOs. Gelsinger, who rejoined Intel in 2021 to lead a strategic overhaul, faced challenges including missed targets and declining revenues. Under his leadership, Intel aimed to compete with TSMC and Samsung, but faced setbacks in AI chip development and manufacturing processes. The company is now restructuring, with a search committee formed to find Gelsinger's permanent successor.