News

What’s Going On With Intel’s Stock Thursday? – Intel (NASDAQ:INTC)


Intel Corp INTC appointed Justin Hotard as the new Executive Vice President and General Manager of its Data Center and AI Group, effective February 1, 2024. 

With over two decades of experience in the computing and data center sectors, Hotard is known for his expertise in scaling AI systems for enterprises

He joined Intel from Hewlett Packard Enterprise Co HPE as the executive vice president and general manager of high-performance computing, AI, and labs.

 

 

Intel Corp INTC appointed Justin Hotard as the new Executive Vice President and General Manager of its Data Center and AI Group, effective February 1, 2024. 

With over two decades of experience in the computing and data center sectors, Hotard is known for his expertise in scaling AI systems for enterprises

He joined Intel from Hewlett Packard Enterprise Co HPE as the executive vice president and general manager of high-performance computing, AI, and labs.

At Intel, Hotard will oversee critical products, including the Xeon server processors, which are crucial to data centers but currently face competition from rivals and in-house customer developments.

Hotard’s role also includes leading Intel’s endeavors in graphics and accelerator chips, aiming to challenge Nvidia Corp’s NVDA dominance in AI, Bloomberg reports.

 Also Read: Intel and DigitalBridge Launch Articul8 AI to Transform Enterprise AI Landscape 

This appointment is a strategic move for Intel CEO Pat Gelsinger, who is focused on revitalizing the company’s leadership in the chip industry, notes Bloomberg. 

Despite their lower volume, data center products are highly profitable due to the high prices of processors and accelerators, making them a crucial segment for Intel.

Before his tenure at HPE, Hotard held significant roles at NCR Small Business, Symbol Technologies, and Motorola. 

He is an alumnus of the University of Illinois at Urbana-Champaign, holding a Bachelor of Science degree in Electrical Engineering, and he also earned an MBA from the MIT Sloan School of Management.

Hotard replaces Sandra Rivera, who recently transitioned to CEO of the Programmable Solutions Group, an independent business unit within Intel.

In related news, Intel also announced the departure of Arun Subramaniyan from its data center unit. Subramaniyan will lead Articul8, a new AI company created by Intel in collaboration with investors such as DigitalBridge Group Inc DBRG and Mindset Ventures.

Price Action: INTC shares are trading lower by 3.62% at $45.35 premarket on the last check Thursday.

Also Read: Intel Takes on AI Market with ‘Meteor Lake’ and High-End Processors

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button