Intel Postpones Innovation 2024 Event Amid Cost-Cutting Measures

Intel postpones key chip event amid cost-cutting effort - SiliconANGLE

Intel Corp. has postponed a product event where executives usually introduce new chips on account of a cost-cutting initiative it launched earlier this month. The company announced the decision on Thursday. The two-day Intel Innovation conference was originally set to kick off on September 24 in San Jose, California. The company has pushed back the event to next year. An Intel spokesperson told PCMag that "given our financial results and outlook for the second half of 2024, which is tougher than previously expected, we are having to make some tough decisions as we continue to align our cost structure and look to assess how we rebuild a sustainable engine of process technology leadership." Intel posted its second quarter results at the start of the month. The company's revenue dipped 1% year-over-year, missing analyst expectations, while the $1.48 billion profit it posted 12 months earlier turned into a $1.61 billion net loss. In response to the disappointing results, Intel announced a 20% cut to its full-year capital expenditures. Such expenditures include, among others, big-ticket purchases such as chipmaking equipment. Intel also launched a round of job cuts that will affect more than 15,000 employees. The chipmaker usually announces new products at its Intel Innovation event. The past two editions of the conference both saw executives introduce new central processing units for the personal computer market. According to Intel, the decision to postpone the event won't impact the launch schedule of its next-generation PC processors. "There are no changes to Intel's launch plans, timing, or product readiness," the company said in a statement. "We'll share more details on our next-gen desktop processor products, codenamed Arrow Lake, later this year." Recent rumors suggest that the Arrow Lake series will feature a chiplet architecture. A chiplet-based processor isn't implemented on a single piece of silicon, but rather comprises multiple modules that are manufactured separately. Intel has already incorporated the technology into several product lines. The fastest Arrow Lake processor is expected to have a top clock speed of 5.7GHz. The chips in the series are expected to ship with up 24 CPU cores, including 16 that prioritize power-efficiency and 8 optimized to maximize performance. There's also a built-in graphics processing unit, as well as a module optimized to run artificial intelligence models. Arrow Lake's performance-optimized CPU cores are reportedly based on a new design called Lion Cove that Intel detailed in June. Lion Cove provides better performance than the company's previous-generation silicon thanks to a faster onboard cache. Additionally, Intel has added an AI mechanism that can automatically boost Lion Cove cores' performance when there's no risk of overheating.

Intel delays Innovation event to 2025 amid layoffs and uncertainties

Intel has notified attendees of its Innovation event scheduled for late September about its postponement to 2025. The decision comes after the company lost money in its last quarter, triggering mass layoffs, a huge capitalization drop, and an uninspiring business outlook as it deals with issues with its degrading 13th and 14th Generation Core CPUs. The delay is not expected to have any impact on Intel's launch plans for this year, at least for now. "After careful consideration, we have made the decision to postpone our Intel-hosted event, Intel Innovation in September, until 2025," a statement by Intel reads. "For the remainder of 2024, we will continue to host smaller, more targeted events, webinars, hackathons and meetups worldwide through Intel Connection and Intel AI Summit events, as well as have a presence at other industry moments." In a statement to PCMag, Intel said that in light of its financial results and the more challenging-than-expected outlook for the second half of 2024, the company had to make some difficult decisions as it continues 'to align our cost structure and look to assess how we rebuild a sustainable engine of process technology leadership.' It should be noted that Intel's marketing department is about to experience significant cuts, which makes organizing big events difficult. The company may simply not have enough personnel to run an event of substantial scale. While Intel's Innovation events are important for analysts, customers, and developers as they can learn more from the firm about its future plans, get hands-on experience, and discuss how they can use Intel's technology, these events are not exactly meant for large product launches, unlike Intel Developer Forum (IDF) from back of the day. Arguably more important for the general public are Intel's status updates and demonstrations of next-generation products, such as showing off a PC running on its 2025 Panther Lake CPU. That said, the delay of Intel Innovation 2024 does not mean that the company will postpone products. At least for now, Intel has not announced any changes to its plans concerning Core Ultra Series 2 'Lunar Lake' processors for laptops (due to be announced in early September), Arrow Lake CPUs for desktops, and Xeon 6 'Granite Rapids' and Xeon 6 'Sierra Forest' products for data centers. But we are probably not going to see Intel's 2026 CPU in action this September.

Intel Postpones "Innovation 2024" Event Amid Financial Woes But Will Continue With Smaller Events

Intel has postponed its Innovation 2024 event, marking a major setback for Team Blue which faces major challenges & not just financially. It seems like Intel is in a tough situation at the moment. With the major instability problems with its high-end CPUs and its massive layoff of about 15000 employees, Intel is taking a step back from the upcoming Innovation 2024 event, which was planned for 24-25 September. The Innovation event was scheduled in San Jose, California but it notified the attendees on Thursday about the postponing of the event. The company issued a notice about the event saying, "After careful consideration, we have decided to postpone our Intel-hosted event, Intel Innovation in September, until 2025." Intel is straight away canceling the event this year, which is an annual event for developers and technology specialists. It's also the event where Intel was supposed to show off its upcoming desktop and laptop CPU lineups. The event will now be held in September of 2025 as usual but the company also said, "For the remainder of 2024, we will continue to host smaller, more targeted events, webinars, hackathons, and meetups worldwide through Intel Connection and Intel AI Summit events, as well as have a presence at other industry moments." As reported by PCMag, Intel told the publication, "Given our financial results and outlook for the second half of 2024, which is tougher than previously expected, we are having to make some tough decisions as we continue to align our cost structure and look to assess how we rebuild a sustainable engine of process technology leadership." Intel is in a tight position as we know the company isn't quite there in its financial conditions. The financial results have led the company to decide to fire around 15,000 employees to cut costs. Combine that with the Intel 13th and 14th gen processors drama, the company has received a lot of backlash from customers around the world. While Intel is working on the fix for the latter, it is still in a difficult position to reach its financial goals. Postponing the event company may have some negative impacts on the company's goals for its Arrow Lake and Lunar Lake launch because AMD has already exerted its efforts for the launch of its Ryzen 9000 CPUs, some of which we have reviewed recently. The preparations for the event were already underway, therefore, Intel took its time to appreciate the efforts of its partners, sponsors, exhibitors, and developer communities.

Intel scraps Innovation Expo as cash-strapped company makes cuts

(Bloomberg) -- Intel Corp., which is cutting jobs and costs to preserve its shrinking cash pile, postponed an Innovation event that had been scheduled for next month in San Jose, California. The chipmaker plans to focus on other gatherings, such as webinars, hackathons and the Intel AI Summit, in lieu of the Innovation conference, the company said Friday in an emailed statement. The move follows a rocky earnings report last week, when Intel delivered a disappointing sales forecast and cut its dividend. The company also plans to eliminate 15 per cent of its workers -- a sign that a comeback under Chief Executive Officer Pat Gelsinger is still far off. The annual Innovation event was part of a push by Gelsinger to restore Intel's technological edge and influence. It was modeled on a longtime conference called the Intel Developer Forum that once set the direction for the computer industry.

Excited for Intel's next big chip reveal? Innovation event delay could mean you'll be waiting for a while

Intel Core i9-12900K är den senaste högpresterande flaggskeppsprocessorn. (Image credit: Future) Intel's 'Innovation' event is one of the cornerstones of the tech industry calendar, as if often sees the launch of upcoming desktop and laptop processors like the upcoming Arrow Lake and Lunar Lake chips. Unfortunately, we've got bad news: computing enthusiasts will be disappointed to learn that the event has been postponed until September 2025. In a post on the Innovation 2024 website (registration required) the company states that "after careful consideration, we have made the decision to postpone our Intel-hosted event, Intel Innovation, in September until 2025." Attendees have been notified that the event will be pushed back. Intel provided a statement to elaborate further on the reason behind this year-long delay, noting that "given our financial results and outlook for the second half of 2024, which is tougher than previously expected, we are having to make some tough decisions as we continue to align our cost structure and look to assess how we rebuild a sustainable engine of process technology leadership." Intel went on to express "sincere appreciation to our partners, sponsors, exhibitors, developer communities and our larger team who had committed to support and attend the event." While it's also potentially bad news for consumers too, there are reasons for cautious optimism that we might see some Intel announcement elsewhere instead... Intel recently confirmed plans to lay off 15,000 employees due to its poor performance this year and has been rushing to do damage control regarding issues with 13th-gen and 14th-gen processors that are experiencing severe instability. The company has so far extended warranties for the CPUs from these generations by about two years, meaning the entire warranty for those CPUs is now five years. According to Intel's Communications Manager Thomas Hannaford, "Intel is committed to making sure all customers who have or are currently experiencing instability symptoms on their 13th and/or 14th-gen desktop processors are supported in the exchange process. We stand behind our products, and in the coming days we will be sharing more details on two-year extended warranty support for our boxed Intel Core 13th and 14th-gen desktop processors." We may not have to wait an entire year, however, as Intel may just announce a few of its bigger products at IFA 2024 later this year instead. According to the post on the Innovation site, Intel plans to focus on "current smaller, more targeted events, webinars, hackathons and meetups worldwide through Intel Connection and Intel AI Summit events, as well as a presence at other industry moments." While this is quite disappointing news to those of us who have been eagerly waiting for the event, it does show some self-awareness from the company that it has bigger fish to fry and will need to right a lot of wrongs before it can confidently drop new products.