For several years, Intel’s “Innovation” event is where the chipmaker showcases its latest chips and technologies, which has seen several generations of desktop processors debuted here. However, as the company is deep in turmoil over prematurely degraded processors and its worst financial downturn in 50 years, it has since planned layoffs and budget cuts – and it looks like the yearly event is impacted as well.
Intel Innovation Has To Wait
Intel posted a brief statement on its Innovation website: “After careful consideration, we have made the decision to postpone our Intel-hosted event, Intel Innovation, in September until 2025.” Based on the statement, the company is scaling down its activities for the remainder of 2024, which includes “smaller, more targeted events, webinars, hackathons and meetups worldwide.”
The company also provided a statement to PCMag of its current financial situation:
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. We express sincere appreciation to our partners, sponsors, exhibitors, developer communities and our larger team who had committed to support and attend the event.
Intel’s statement to PCMag
Just last week, Intel has announced several cost-saving measures, including laying off over 15,000 employees. With the event officially pushed back to 2025, what does this mean for Arrow Lake’s launch, then? In an updated statement provided to OC3D, the chipmaker assures that Arrow Lake will launch on time this year.
“There are no changes to Intel’s launch plans, timing, or product readiness. We are excited about the new product announcements and momentum we have in store, including significant announcements this fall. We’ll share more details on our next-gen desktop processor products, codenamed Arrow Lake, later this year,” the statement reads.
Pokdepinion: While I’m pretty sure the Core i9 incident is mostly unrelated to the poor finances, one does wonder when did the chain reaction started off to cause such a huge damage to this company.
