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Intel drops out of top 10 chip firms, CEO reveals
Intel's CEO Pat Gelsinger just shared that the company is no longer in the world's top 10 semiconductor firms.
This news follows layoffs of 500 staff in Oregon, part of a plan that could impact up to 20% of Intel's global workforce.
Intel is feeling serious pressure from rivals like NVIDIA, TSMC, and AMD.
Market cap of Intel and NVIDIA
Intel's market cap: about $103 billion
NVIDIA's market cap: briefly crossed $4 trillion
Up to 20% of Intel employees could be affected by layoffs
Intel invented 1st commercial microprocessor in 1971
Intel may be struggling now, but it made history back in 1971 by inventing the first commercial microprocessor—a move that helped kick off the digital age!