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More warning signs for Intel.
Two credit agencies have downgraded Intel’s credit rating to “BBB,” two notches above junk status. (Once companies reach “BB,” they’re no longer considered “safe” investments.) One noted Intel needs “stronger end markets and successful product ramps” to recover.
But Intel appears to be losing market share to AMD, and a new Reuters report suggests it’s struggling to get its 18A process ready for next-gen Panther Lake. (Intel says it’s confident in Panther Lake, though.)
Meanwhile, Intel is shedding more employees and halting investments where it doesn’t have ready customers.
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