Intel’s stock dropped around 30% overnight, shaving some $39 billion from the company’s market capitalization since rumors of a pending layoff first emerged. The devastating results come after the chip giant reported a loss for the second quarter, complained about yield issues with the Meteor Lake CPU, provided a modest business outlook for the next few quarters, and announced plans to lay off 15,000 people worldwide.
When the NYSE closed on July 31, Intel’s market capitalization was $130.86 billion. Then, a report about Intel’s massive layoffs was published, and the company’s market capitalization dropped sharply to $123.96 billion on August 1. Following Intel’s financial report yesterday, the company’s capitalization dropped to $91.86 billion. Essentially, Intel has lost half of its capitalization since January. As of now, Intel’s market value is a fraction of Nvidia’s worth and less than half of AMD’s.
As Intel’s actions look rather desperate, analysts believe that Intel’s challenges are existential. “Intel’s issues are now approaching the existential,” Stacy Rasgon, an analyst with Bernstein, told Reuters.
When I had to flash my BIOS and pray that it didn’t brick my PC I cursed them, saying “Fuck Intel, I hope their stock plummets!”
You’re welcome everyone.
can you do reddit next please
Tiktok afterwards please.
Then all oil companies
Let’s do these before everything else
Then we move on to private equity firms
Alright, alright. This is getting out of hand.
We need to make a list and then do like a reverse Kantian calculus to figure out which ones are doing the most harm and start from the top in descending order.
Then all oil companies
Survey says, Gazprom! https://lemmy.world/post/18220754
Ticketmaster
Everyone’s acting like this guy said he’s taking requests.
Well we’re not all fucking witches here, I’m sure he’ll do something if someone gives him their firstborn.
Can you tell a guy first, I could have shorted
It certainly doesn’t help Intel has been intentionally selling defective product in the 13th and 14th gen lines. People are quite reasonably going to AMD more and more.
Does AMD have anything to compete with Intel QSV? I’m looking to upgrade my Plex server and was looking at a newer Intel CPU.
The latest AMD cpus do have transcoding, but Amd transcode isn’t very good and isn’t very compatible with Linux.
You can pick up an Intel A310 single slot GPU for $100 and it has AV1 encode, which is something that the igpu QSV doesn’t have. Works very well in my $100 Epyc motherboard with 80+ pcie lanes.
Amd transcode isn’t very good and isn’t very compatible with Linux
It’s compatible just fine. But the quality… well, it’s not the worst, but definitely not the best quality.
You want to look at VCN
AMD have anything to compete with Intel QSV
I believe AMD VCN does the same thing. Though I haven’t looked into it. AMD chips also have pretty decent onboard video cores, so you might be able to do hardware accelerated encoding that way too.
was looking at a newer Intel CPU
Just stay away from Intel 13th and 14th gen chips. They have oxidation issues from the factory and are also over-volting themselves in software. The former is unfixable and the latter causes unfixable damage.
Does laptop cpus have same problems? I’ve found mixed results.
We don’t know and Intel is being incredibly mum about the entire situation.
Which probably means a lot of corporations that have Intel inside their everyday computers may be less than enthusiastic about what they spent money on.
Read somewhere that everything 65W TDP and up is affected. Laptop CPUs should be mostly fine then.
I hardly ever transcode at home. I mostly use ffmpeg on a crappy old i5 server that I use for other beataround stuff too. I tend to do that in batch mode and it’s fast enough for my purposes. That’s an approach to consider. Or you could spin up Intel VM’s as needed on Hetzner unless you’re doing a totally ridiculous amount of transcoding.
I need on-location transcoding because my internet is garbage (~50 mbps). Sometimes my users need to transcode the show if the bit rate of the file is too high for my internet to keep up.
Wait you’re literally serving other users from a home internet? Oh man, get a VM or some colo space or something. Or faster internet. Your internet is much faster than mine and one reason I transcode remotely is to drop the bit rate enough that I can download the transcoded version without waiting all day.
I mean, I can stream 4K HDR if the player supports the video format, but clients don’t always jive well with whatever Radarr decided. I know I can fine tune it but everything works well enough right now and I don’t have time to change it.
I move around too much to do colocation. A VPS/VM isn’t worth the cost to me. My server is all old parts and I don’t pay for power usage.
I find software reencoding/remux instead of doing it on the fly is easier for my brain to manage over alignment of the hardware stars.
Eh… I will probably go with a used 9th or 10th gen i7 or something. Intel still gets no money and I get a good CPU.
That’s true as well. I’m using an older 7th gen Intel for remuxing, but do software AV1 encodes which take like 11 hours lol
These fucking idiots. All they had to do was pretend they gave a fuck about the chip debacle and play everything slowly. They couldn’t even do that. They couldn’t even pretend to give a fuck about anyone. Neither their customers nor their employees.
If they replaced the C-suite with the custodial staff, they would be in a significantly better position than they are now. Executives are always dumb as fuck, with very few exceptions. Pre-requisites for the job: narcisism, sociopathy and idiocy.
If they replaced the C-suite with the custodial staff, they would be in a significantly better position than they are now. Executives are always dumb as fuck, with very few exceptions. Pre-requisites for the job: narcisism, sociopathy and idiocy.
Are we still talking about Intel, or…?
The funny thing is that there are executives who know what they’re doing, but they may be outvoted by people who failed upward due to connections or a “good background” (ivy league, internship, etc.).
I always thought “what does a brand name education prove?” This isn’t the 1800s. Community college now is almost as good as Harvard was in the 1800s. Back then, just being able to read meant that you were educated.
Also, what does an internship prove? You know how to carry 8 coffees at once? You can wear a cheap suit? No, it’s all cover for connections. If businesses wanted the best people (say the top 10%) you could literally just set up a table outside a subway station and interview random commuters, getting probably 10 good prospects in a day.
Ivy League, internships etc. prove exactly what you are critizising. They prove to have the connections. They prove to be part of the in-group. They prove that you will defend your class interests against the lower classes. And if you are one of the very few people who achieve upwards class mobility, they prove that you will be betraying them.
This is not about running the best company or running the best economy. It is about maintaining class power and privilege.
This is not about running the best company or running the best economy. It is about maintaining class power and privilege.
I understand your point, but neo-marxist perspectives like this fundamentally misunderstand what companies care about (for obvious reasons). No company cares about “class power” or “privilege” because shareholders only care about their own money.
Their “class” is not important when it comes to investing. If they could fire all the nepo babies and use AI instead, they would do it in 1 second.
Their “class” is not important when it comes to investing. If they could fire all the nepo babies and use AI instead, they would do it in 1 second.
Firing the nepo babys remains consistent with being the owning class. And they put the nepo babies so they dont have to put rising middle and lower class people there.
It’s not. Investors literally only care about money.
Rich people don’t have “class consciousness” because they all want to be better and richer than other rich people. That’s what “keeping up with the Joneses” (or Kardashians) is. You don’t want the Joneses to improve, because that hurts you.
It’s a zero-sum game at the top. If your neighbor buys a Mercedes, you need to buy a Maserati. Like I said, neo-marxism fundamentally misunderstands rich people.
That’s communism.
Brutal, nearly the lowest since 2008. Makes me want to buy in at this point.
Edit: I bought a few shares, so now they’re sure to go bankrupt by tomorrow.
Edit 2: ayyy did I actually catch a falling knife for once? It’s still going up after hours.
The market does tend to overreact so this is possible a sign to buy low. I can’t be bothered to check the fundamenals but it seems unlikely that amd is a better investment long term. If you are not looking at least 5 years to the future stocks are a bad idea.
OTOH: Boeing. Had the 737 Max bug been a one-off incredibly bad fuck up, they would have been a good buy. Then it turned out that that bug was just the first sign of many deep seated issues with their production process. Boeing 100% deserves everything they’re getting. Management skipped right over lawful, chaotic, and neutral evil and went into stupid evil, and decided that sacrificing QC/QA on aerospace equipment would be a great way to get returns for shareholders.
They didn’t skip those steps. The market just ignored the fact that they’ve been stepping through those options for the last 30 years because that’s what the market as a whole has been doing. As cliche and annoying as it sounds, this is exactly what late stage capitalism looks like. Once growth through sales becomes difficult, usually from approaching monopolistic size in a market, they only have two options left. They can either cut corners and headcount to save on operational expenses or they can decrease revenue growth. Considering the fact that the central thesis of our economy is the idea that infinite growth is not only possible but the only valid pursuit of any corporation it’s easy to guess what they’re going to do when faced with declining sales or any other detriment to growth.
Fundamentals: Intel powers the US military industrial complex, they’ll weather this storm.
And the frank truth is, if things heat up on the Taiwan strait, TSMC is toast and Samsung won’t be able to pick up the slack.
Don’t worry, tomorrow the market is closed!
And some moron on Wallstreetbets just invested his $700k inheritance in shares yesterday. He’s -200k rn
The stock market is the least stupid way to be addicted to gambling but it’s still one of the dumber addictions to develop.
When you ain’t got nothing, you got nothing to lose bud. That’s where I’m at in this moment. If I lose every penny I have I’m still poor. If I don’t, maybe I can get a start on a damn house or something.
Unless you short. Then you can be -200k!
Food stamps or Ferrari. Sounds like you already have the former
And people will continue to buy the 14900k and have the shocked pikachu face.
Well a lot of products have these things in them and a lot of people have no clue they are getting sold a defective product. This is all on intel, do not blame the customer because the big corporation is selling defective goods.
More than that, for years it has been eating more and more watts and the electricity prices went up… But still , most simp for Intel 💀
🙄 not everyone is a cs nerd. Jesus some good victim blaming here lol
They aren’t victims they’re rubes lol
And to think I grew up at a time when Intel reigned supreme. My my.
I grew up in an era where IBM reign supreme.
A decade ago, it dipped to 1990s level but now it’s pretty up there in value again.
I don’t understand tech company stocks at all.
- glad I just went with AMD. Dodged a bullet.
- Man that 11 billion they just got from us, so hot.
It’s not everyday that I’m thankful that grandma didn’t leave me $700,000 but today is one of those days
I never imagined a world where Intel was the little fish. Wild
It’s gotta be temporary. It’s intel.
Ugh, I hope Loongson becomes competitive soon. If AMD gets a monopoly, cpu technology is going to get stagnant. And not decrease in cost.
It’s true, but Intel fucked around for years and now they’re finding out. I’m happy to watch them stew for a year or so before getting back on their feet.
The x86-64 CPU market has felt stagnant for a while. The real innovation seems to be happening with ARM and mobile. In which Intel is way behind. Might explain some of the news from today.
I wonder if that guy who bet his inheritance from WallStreetBets is ok…
As someone with no inheritance now or ever, it’s hard for me to imagine it has anything but fuck around money. I’m sure he’s fine.
Like he’ll be fine but psychologically thats gotta be tuff. Shoulda thrown it in index funds or some guranteed instrument
I think suspending the dividend is worse than the layoffs for INTC, since it used to be a boring boomer blue chip divvy type thing to hold and DRIP
Ugh, I got a fair return from buying to AMD right before Ryzen came out. I sold some of it and bought multiple different chip companies so now I have some AMD, some Intel, some NVDA. Oh well, it’s not a huge amount but still sucks. I hope they can come back if only because AMD needs competition to keep them from becoming the evil that old Intel was. I was hoping Intel would also be a viable third GPU competitor, I like my Arc A770 for the price and I’m hoping they don’t kill off the GPU division.
I bought an Intel last time because I got AMD the time before that and they had issues that I can’t recall right now. Security or they had to slow it down?
Luckily, I’m still on a 11th Gen. I guess I’m going back to AMD when I decide to upgrade again.
Intel has had more security stuff that slowed it down than amd.
Amd had some usb dropout issues but otherwise has been pretty solid for Ryzen.
Skylake myself, after a FX 9590 as a last ditch effort.
I’ll never get a P/E core CPU. Windows 11 fucked with virtualization and now the scheduler somehow breaks VMWare, all because my Desktop CPU somehow needs to be as power efficient as a laptop CPU when idle cores already hardly consume power. And spoiler: Otherwise I want to use the power I bought.
New build will be AMD, and only when the old one starts breaking. Now that I think about it, I should research if I can move BitLocker drives to a new system.
You can move the drives. Just have your recovery key/password in hand. No problem.
