英特尔CEO突然离职：科技巨头陷入困境 | 经济学人

财富 2024-12-03 10:24 美国

写在前面

1.重点单词

abrupt - 突然的，意外的

impatient - 不耐烦的

paranoid - 偏执的

unveil - 揭示，公布

restructure - 重组

ouster - 罢免，驱逐

plunge - 暴跌

synonymous - 同义的

cutting-edge - 尖端的

ill-prepared - 准备不足的

spectacularly - 引人注目地

splurge - 挥霍

evaporate - 蒸发，消失

traction - 吸引力

shortfall - 短缺，不足

radical - 激进的

flirt - 考虑，尝试

deter - 阻止，制止

saga - 传奇，长篇故事

displeasure - 不悦，不满

2.词组

chief executive - 首席执行官

production technology - 生产技术

permanent successor - 永久继任者

quarterly results - 季度业绩

industry benchmark - 行业基准

data centres - 数据中心

artificial intelligence - 人工智能

technical setbacks - 技术挫折

foundry business - 代工业务

central processing units - 中央处理器

private-equity firms - 私募股权公司

financial statements - 财务报表

incoming administration - 即将上任的政府

3.固定搭配

take over - 接管

grow impatient - 变得不耐烦

fall behind - 落后于

turn into - 变成

make up - 弥补

turn to - 求助于

stop short of - 差一点就

4.文章概述：

英特尔CEO帕特·基辛格突然宣布退休，反映出公司面临的严峻挑战。自2021年上任以来，基辛格推行激进的重组计划，但未能扭转公司颓势。英特尔近期公布创纪录季度亏损，股价大跌，与行业基准相比表现不佳。公司正面临来自AMD和人工智能芯片市场的激烈竞争。特朗普政府将面临是否继续支持英特尔的困境，同时还要平衡与台积电等竞争对手的关系。这一事件凸显了美国半导体行业的复杂局势。

5.问题（如何读完文章能很快回答这几个问题，证明我们真正读懂了这篇文章）：

Q1: How did Intel's stock price perform during Pat Gelsinger's tenure as CEO?

Q2: What measures has Intel recently taken to address its financial difficulties?

Q3: What choice does the Trump administration face regarding Intel's future

精读|翻译|词组

Business | Yielding

Intel’s troubles deepen, as its boss makes an abrupt exit

Pat Gelsinger’s surprise departure poses a dilemma for Donald Trump

When Pat GELSINGER took over as Intel’s chief executive in 2021 he seemed to possess the same impatient mindset as his mentor, Andy Grove, a former boss of the chipmaker famed for declaring that “Only the paranoid survive”. Barely a month into the job Mr Gelsinger unveiled a plan to restructure the business and advance through five generations of production technology within four years. Nearly four years on, however, it is Intel’s investors who have grown impatient. On December 2nd Intel announced that Mr Gelsinger would be retiring. That his departure is effective immediately, with a permanent successor yet to be appointed, suggests it was hardly voluntary. It leaves both Intel and the incoming Trump administration in an awkward spot.

Mr Gelsinger’s ouster comes after the chipmaker posted a $16.6bn loss in its quarterly results last month, the biggest in its history. In August the company suspended its dividend for the first time since 1992 and announced plans to fire more than 15% of its roughly 130,000 employees. Since Mr Gelsinger took over as Intel’s boss its share price has plunged by three-fifths. By contrast the PHLX Semiconductor Index, an industry benchmark, has risen the same amount over that period (see chart).

In fairness, Mr Gelsinger was dealt a difficult hand. Intel had once been synonymous with cutting-edge semiconductor technology, and when Mr Gelsinger took over it still dominated the market for chips that run data centres and PCs. But it had missed the boom in smartphones and was ill-prepared for the one that would soon come in artificial intelligence (AI). Following a series of technical setbacks, it had also fallen behind TSMC, a Taiwanese chipmaker, in the production of cutting-edge semiconductors. Mr Gelsinger’s response was to split the design and manufacturing sides of the business, allowing the former to choose the best foundries for its needs while freeing the latter to serve other chip designers. He declared, optimistically, that Intel’s new foundry business would become the world’s second-largest by 2030, behind only TSMC.

The strategy has fallen apart spectacularly. To turn Mr Gelsinger’s foundry vision into reality, Intel splurged $100bn on production sites across four American states—just as its profits were evaporating. Its core business of central processing units has slowed as AMD, a long-time rival, has nabbed customers, and it has failed to gain traction with its Gaudi AI chips.

To make up the funding shortfall, Intel has turned to private-equity firms as well as America’s government, which on November 26th announced that it would award the company nearly $8bn in subsidies under the chips Act. To make it easier to raise money from outside investors, the company said in September that it would turn its foundry business into an independent entity with its own board and financial statements, but stopped short of a full separation. Mr Gelsinger’s successor may have to be more radical. Qualcomm, a designer of smartphone chips, flirted with acquiring the company, but has reportedly abandoned the idea, deterred, perhaps, by Intel’s size and complexity.

The incoming administration of Donald Trump will have a role to play in the next stage of the saga. Vivek Ramaswamy, who will lead a new Department of Government Efficiency alongside Elon Musk, criticised the Biden administration’s decision to grant the $8bn subsidy to Intel in its waning days. Mr Trump has called the Chips Act “wasteful”. At the same time, though, he has expressed his displeasure with Taiwan’s dominance over chip production and accused it of “stealing” America’s semiconductor industry. He now faces a choice between rescuing Intel from its mess, or relying on TSMC, which is building three advanced production facilities in America, to bring chipmaking home.

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