Investing.com -- Intel Corporation (NASDAQ:INTC) CEO Pat Gelsinger highlighted the role of Intel’s Xeon processors used in Elon Musk’s AI venture, xAI.
Intel’s Xeon processors have long been a staple in data centers. The focus of the chip industry revolves around the amount of energy required to run data centers.
Intel, once the world’s most valuable chipmaker, has faced a significant decline in market value, losing roughly half of its value since the start of the year.
The company is focusing on AI processors and expanding its contract manufacturing business, known as its foundry, as part of a broader effort to turn its business around and regain competitive ground in the industry.