By now a byword for old tech, Intel may be the largest maker of chips known as central processing units in the US, but its focus remains on the PC and laptop industry, which has been in decline for years. Photograph: Alan Betson
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While Microsoft has grown to become the most valuable public company in the world – overtaking Apple this year as its market capitalisation breached $3 trillion – Intel’s shares have lost more than half their value in the past three years as its name has long become a byword for old tech. Intel may be the largest maker of chips known as central processing units in the US, but its focus remains on the PC and laptop industry, which has been in decline for years.
It didn’t have to be this way. The company started working on a project back in 2008 to develop general-purpose GPUs. It ended up being axed more than a decade ago – ultimately putting it on the back foot in the current AI arms race. The AI boom in the past 18 months masked a wider downturn in semiconductors in 2023, following something of a dream run during the peak of the pandemic when there was an unprecedented surge in demand for laptops and tech gadgets.
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