Gelsinger Looking at Cloud as Key to Stabilization

Let’s revisit the slowdown in cloud spending. That has an impact on data center rollouts, where Intel sees a lot of chip sales. Despite the pullbacks, Intel CEO Gelsinger expects revenue from cloud users to turn around. More than 95% of cloud customers use Intel, he told analysts on Thursday.

“[T]hat gives us a very strong incumbency that we get to renew as we rebuild our customers’ confidence. So as you put all of those things together, yes, we realize that we stumble, right? We lost share. We lost momentum. We think that stabilizes this year, and we’re going to be building a road map that allows us to regain leadership for the long term in this critical market.”

Next, find out what Intel plans to do to save some money.