The Marker: Despite optimistic reports, Intel is unable to overcome the crisis

Intel, which previously announced significant cuts that also affected Israel, published a report for the third quarter of the year, according to which the company’s income amounted to $13.3-14.3 billion. This led to an 8% increase in the price of Intel shares, The Marker reports.

At the same time, the report shows that the company has not yet overcome the deep crisis. Revenues were down 6% from the previous year, and the net loss, one of the main reasons for which was financial reorganization, exceeded $16 billion.

Another problem has been the slow implementation of Gaudi artificial intelligence chips, which have not been able to significantly displace NVIDIA’s developments on the market. Gaudi is a development of the Israeli company Habana Labs. In 2019, Intel acquired the company for two billion dollars in 2019.

The publication reminds: Intel is the largest employer in Israeli high-tech, and its successes or failures will have a direct impact on the Israeli economy as a whole.