Intel cancelled multiple manufacturing projects in Europe and delayed its Ohio chip plant for the second time this year.
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Intel has decided to close down its automotive business, a decision that will lead to layoffs.
Rumors of these layoffs began back in April as Intel looks to refocus on its core business units and shed additional bloat.
This deal would be meant to help Intel bulk up its U.S. chip manufacturing, including its much-delayed Ohio factory.
The U.S. government's recent stake in Intel comes after a long period of floundering at the company's foundry business.
Nvidia CEO Jensen Huang said he isn't confident that the U.S. will change its mind on chip export restrictions anytime soon.
Intel's stock has risen a stunning 490% over the past year, a bet by Wall Street that may be running well ahead of the company's…
