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Intel used to dominate the U.S. chip industry, now struggling to stay relevant
Intel has missed most of the significant technology transitions over the past 15-plus years, losing its standing in the chip industry along the way.
Although Intel's revenue is no longer shrinking and the company remains the biggest maker of processors that power PCs and laptops, sales in the first quarter trailed estimates. U.S. political leaders including President Biden call Intel an American chip champion and say the company is strategically an important part of the U.S. processor supply chain. The company missed its deadlines for the next process, 7nm — eventually revealing the issue in a bullet point in the small print in a 2020 earnings release, causing the stock to plunge, and clearing the way for Gelsinger, a former Intel engineer, to take over.
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