Intel Delays 2024 Innovation Event, Insists Arrow Lake Launch Is Still On Track
Intel is dealing with challenges on several fronts, and as a result, the Santa Clara chip maker announced it is postponing its upcoming Innovation 2024 chip event that was originally scheduled to take place September 24-25, 2024 in San Jose, California. Instead, it will now take place sometime in 2025, though Intel didn't offer up a specific time frame.
"After careful consideration, we have made the decision to postpone our Intel-hosted event, Intel Innovation in September, until 2025. 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," Intel states on its Innovation website.
Intel is in the midst of a rough stretch, to put it mildly. For one, it's been catching flack for instability issues tied to its 14th Gen and 13th Gen Core processors, which Intel finally determined was due to a faulty microcode algorithm causing elevated operating voltages to its CPUs. The issue affects a range of processors, including non-K mainstream models (65W and higher).
The good news there is that Intel believes it can prevent further issues with a microcode update, and motherboard makers this week have begun pushing out updated BIOS releases based on new microcode (0x129). However, those who are already experiencing stability issues may be in possession of silicon that is permanently damaged.
Related, Intel ended up extending the warranty term on its 14th/13th Gen Core processors by an additional two years. It also made clear that it would take care of customers who are running into RMA issues, including those in possession of OEM and tray processors, not just retail boxed chips.
While this is going on, Intel announced a huge round of layoffs that will see the company slash around 15% of its workforce, or 15,000 jobs. Intel CEO didn't mince words about the cuts and the company's current financial situation, saying there are "tough days ahead." The job cuts are part of a plan for deliver $10 billion in cost savings next year.
"These decisions have challenged me to my core, and this is the hardest thing I’ve done in my career," Gelsinger stated in a public note. "My pledge to you is that we will prioritize a culture of honesty, transparency and respect in the weeks and months to come."
The job cuts arrive as Intel announced "disappointing" earnings for the second quarter, to use Gelsinger's own description. Intel posted a $1.65 billion net loss last quarter, compared to a $1.47 billion profit in the same quarter a year ago. It's also facing a lawsuit with shareholders, and has seen its stock price plummet over 54% in the last six months.
It's not all gloom and doom, though. Intel said it has shipped more than 15 million AI PCs since last December, "far more than all of Intel's competitors combined," and is on track to ship more than 40 million AI PCs by the end of this.
Intel's launch plans also remain unfazed by all the fires it's been trying to mitigate, according to a statement to provided to OC3D. That includes Arrow Lake, which is due to release 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," Intel said.
We were hoping to hear more information about Arrow Lake at Innovation 2024, but with the event being delayed, we'll have to wait and see how Intel plans to proceed.
