Intel may lose billions of dollars once set aside by the US CHIPS Act, unless it can get its act together
If Intel doesn’t implement significant adjustments, its 2024 outlook could become even more challenging. The current year has already seen setbacks such as job cuts affecting 15,000 employees, a class action lawsuit over faulty 13th Gen and 14th Gen CPUs, a $32 billion market cap loss in one day, and lawsuits from shareholders alleging Intel concealed unfavorable information about its Intel Foundry services. Additionally, the company might face delays in receiving funds through the CHIPS Act.