Intel Drops Out of Top 10 Semiconductor Companies, Faces $16.6B Quarterly Loss

Intel CEO Lip-Bu Tan publicly acknowledged in a recent internal meeting that the company has fallen out of the global top 10 semiconductor firms due to years of strategic missteps, revealing a staggering $16.6 billion loss in Q3 2024 . This marks the worst quarterly performance in Intel’s 57-year history, driven by $15.9 billion in accelerated depreciation costs tied to underperforming Intel 7 manufacturing assets and Mobileye’s goodwill impairment . To reverse its fortunes, the board approved a new strategy centered on edge AI and agent AI, coupled with global layoffs and business restructuri