Stocks fall in price: Intel equates with OpenAI in value.

OpenAI is valued at $80 billion. Almost as much as Intel.

According to Wccftech data, OpenAI completed its latest funding round in February 2024, leading to a company valuation of $80 billion. Meanwhile, Intel's capitalization has decreased to $81.19 billion.

Intel shares depreciated after announcing negative financial results for the second quarter of 2024.

The processor manufacturer not only missed analysts' expectations regarding its key indicators but also failed to reach the DCAI value, indicating that it has not yet fully taken advantage of the opportunities associated with the development of artificial intelligence.

Most notably, Intel failed to achieve its projected gross margin for the second quarter.

To preserve working capital, the chip manufacturer cut dividends and announced mass layoffs - laying off 15,000 employees, accounting for 13.6% of the total staff, which numbers around 110,000 people. This is in addition to the 5% cut the company executed in 2023.

Intel's 13th and 14th generation processors continue to face oxidation issues caused by excessive voltage. The company plans to release an update to prevent further degradation of processors that have not yet been affected by this issue. Additionally, the warranty period for the company's 13th and 14th generation processors has been extended from 3 years without packaging condition to 5 years.

Source: Economic Pravda