Intel Ends Network Switch Business and RISC-V Pathfinder Program Amidst Economic Slowdown

[AleksandarK]

Yesterday, Intel reported that the company experienced one of the most challenging quarters and year overall revenue results, which led the company's share price to plummet and erase almost 10 billion dollars from its market cap. Amid the economic downtrend, the company is preparing to axe unnecessary developments and research costs that it would get in low-margin markets. Today, this has been reflected in the company's network switch business and the RISC-V pathfinder program. In 2019, the company acquired Barefoot Networks, which ended up in a line of Tofino series of standalone network switches. Apparently, this has been a low-margin or unprofitable business for Intel. "NEX continues to do well and is a core part of our strategic transformation, but we will end future investments in our network switching product line, while still fully supporting existing products and customers," noted Intel CEO Pat Gelsinger, adding, "Since my return, we have exited seven businesses, providing in excess of $1.5 billion in savings". Intel NICs are not affected, and the company's investments in other networking businesses continue.

Additionally, the company is also doing a shutdown of its RISC-V Pathfinder program. Thanks to Yusuke Ohara, who questioned Intel's Pathfinder for RISC-V program support, we have information that the company is discontinuing the program "effective immediately." The support also advises that Intel will not provide additional advancements or bug fixes, so everyone should consult 3rd parties for any software and development.



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[mechtech]

“Yesterday, Intel reported that the company experienced one of the most challenging quarters and year overall revenue results, which led the company's share price to plummet and erase almost 10 billion dollars from its symbol.”

Go private like Dell did Intel.

 

[cvaldes]

Go private like Dell did Intel.

Dell Technologies is a publicly traded corporation and trades on the Nasdaq under the symbol DELL:

https://finance.yahoo.com/quote/DELL

Current market capitalization is approximately $29 billion. Dell is a component of both the S&P 500 and the NASDAQ-100 indexes.

For more information, please consult Dell's investor relations department:

https://investors.delltechnologies.com/

Dell's buyout in 2013 was under a different set of circumstances. It's worth pointing that since the company is now publicly traded, private ownership did not suit Dell for its long term prospects.

Privatization is not panacea for all financial challenges.

 

[mechtech]

Dell Technologies is a publicly traded corporation and trades on the Nasdaq under the symbol DELL:

https://finance.yahoo.com/quote/DELL

Current market capitalization is approximately $29 billion. Dell is a component of both the S&P 500 and the NASDAQ-100 indexes.

For more information, please consult Dell's investor relations department:

https://investors.delltechnologies.com/

Dell's buyout in 2013 was under a different set of circumstances. It's worth pointing that since the company is now publicly traded, private ownership did not suit Dell for its long term prospects.

Privatization is not panacea for all financial challenges.

Ok. Go private like steam.

 

[cvaldes]

Once again different businesses in size, mission, and valuation.

I doubt if Valve was ever an S&P 500 component.

 

[P4-630]

Elon Musk where are you.....

 

[TheinsanegamerN]

Once again different businesses in size, mission, and valuation.

I doubt if Valve was ever an S&P 500 component.

Well since you want to go full reddit mode, both koch industries and Cargill are far larger by revenue then intel and are fully private, so that's not a problem here.

 

[DeathtoGnomes]

Elon Musk where are you.....

Who?

 

[trsttte]

Elon Musk where are you.....

Wasting his money on twitter

It's his to burn so have at it lol

 

[kondamin]

An other Kodak moment for intel

 

[Minus Infinity]

Elon Musk where are you.....

Hopefully rotting in a prison cell. Why on earth would you want this corrupt bastard near your company.

 

[sepheronx]

Hopefully rotting in a prison cell. Why on earth would you want this corrupt bastard near your company.

Why should he be in jail?

 

[R-T-B]

Why should he be in jail?

For a million financial trading violations out in the open on twitter for starters, but who cares about those anymore? Obviously rich people get a pass.

 

[sepheronx]

For a million financial trading violations out in the open on twitter for starters, but who cares about those anymore? Obviously rich people get a pass.

Care to elaborate?

 

[claes]

/thread

 

[R-T-B]

Care to elaborate?

No. Go follow his twitter for 5 minutes.

 

[Why_Me]

No. Go follow his twitter for 5 minutes.

And?

 

[dragontamer5788]

Care to elaborate?

Taking Tesla private at $420 tweet, which was obviously fraud because there's no buyer. He just said that to pump the stock price. But that was years ago so everyone's "forgiven" Teflon musk on the subject by now. (Not really, that particular tweet is in the courts. I can elaborate further on this subject too).

But the more recent Twitter bullshit in 2022 is more recent and more obvious.

"Twitter is great at $44 Billion, I'm going to buy the company so that I can fix its bot problem!! In fact, I'm so sure that its a good buy, I'm going to sign this contract here that signs away my right to due diligence and start buying Twitter immediately"

Then a few weeks later: "Twitter is a terrible buy at $44 Billion because it has a bot problem. I'm going to quit this contract I signed".

Then a few weeks later: "Twitter mDAU statistics prove that they have a bot problem. No one can force me to buy Twitter".

Then a few weeks later: "Twitter is an amazing company that I'll buy at $44 Billion, I really wanted to buy it this whole time. It will be the start of "X" the everything app"

Anyone who bet against Elon Musk and bought Twitter stock at $35 was then rewarded with $54 as Elon paid them in cash. The end. Long story short: don't trust a liar. In fact, if the lies are bad enough, you can make money off the liar.

 

[sepheronx]

So you hate him over Twitter?

How do you guys feel about Nancy Pelosi and her trading shenanigans?

I'm assuming your guys hate is very selective. A rather very strong suite of Americans.

 

[claes]

They’re both garbage people. Plenty of corruption to go around.

 

[sepheronx]

Yes, But I imagine most here were slurping on Musks shlong before twitter.

 

[R-T-B]

And?

Stop driving the thread offtopic?

So you hate him over Twitter?

No, but you asked specifically "why he should be in jail."

Nancy should probably be in jail too for the same reason, but why are we even talking about this?

 

[dragontamer5788]

So you hate him over Twitter?

No. I made money from that. Why would I hate him for it?

But I can say for sure that Elon Musk is a liar and that you can make money off of that fact. Bet against Mr. Musk when its obvious that the lies are falling apart. No different from Theranos / Elizabeth Holmes or SBF and FTX. Eventually, the lies catch up to these celebrities and money making opportunities arise as they collapse.

The current lie that's falling apart, in court, is Full Self Driving. I'm curious where that lie will go, its been a few years, but its looking like the whole FSD thing has been a massive fraud for years. Its too late to make money from the Twitter thing (your buying opportunity was August 2022 and got paid out in November 2022). But future opportunities will arise.

 

[trsttte]

How do you guys feel about Nancy Pelosi and her trading shenanigans?

What's up with Nancy Pelosi and why there's always the need to bring her up? She's just the average politician, nothing more nothing less. Go look up into the rest of congress and senate and you'll find much better, equal and much worse examples, in both sides of the barricades.

There's a reason laws regulating this never get off the ground, they all do it. Stop singling out someone just because some particular mobs singled her out.

 

[sepheronx]

What's up with Nancy Pelosi and why there's always the need to bring her up? She's just the average politician, nothing more nothing less. Go look up into the rest of congress and senate and you'll find much better, equal and much worse examples, in both sides of the barricades.

There's a reason laws regulating this never get off the ground, they all do it. Stop singling out someone just because some particular mobs singled her out.

I was waiting for an apologist and I got it.

Mission accomplished