AI & Tech
Pat Gelsinger alleges Intel buybacks and finance culture fuelled manufacturing decline
All-In Podcast
How the Finance Department Killed Intel - Former CEO
"In the five years, five, six years before I came back, Intel gave $100 billion to shareholders. Oh, the dividends and stock buybacks."
Pat Gelsinger alleges Intel “went off the rails” when finance-led management displaced technologists, leading to underinvestment in manufacturing. He claims the company returned about $100bn to shareholders via dividends and buybacks in the years before he came back, while failing to build new fabs and make long-term technology bets such as EUV tools.
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