Democracy Dies in Darkness

Intel CEO Pat Gelsinger steps down as chipmaker’s struggles continue

Gelsinger’s exit comes a week after the Biden administration finalized a nearly $8 billion grant to the company.

4 min
Intel announced the retirement of CEO Pat Gelsinger on Monday. (Ann Wang/Reuters)
By
and 

Computer chip maker Intel announced the retirement of chief executive Pat Gelsinger on Monday, raising new questions about the company’s future even as the United States is set to give it billions of dollars to build up the country’s ability to manufacture chips at home.

Under Gelsinger, the 56-year-old tech giant has struggled in the hypercompetitive semiconductor market, largely failing to cash in on the artificial intelligence boom and losing more than half of its market value.