Intel Corp. Chief Executive Officer Lip-Bu Tan gave investors a stark diagnosis of the chipmaker’s problems on Thursday, along with the sense that it will take a while to fix them.

Intel's shares fell more than 8% on Friday as the company's weak revenue and profit forecasts overshadowed new CEO Lip-Bu Tan's strategy to revitalise the embattled chipmaker. Years of bad decisions have left the struggling American chipmaking icon trailing in the lucrative artificial intelligence industry,

Intel reported adjusted earnings of 13 cents a share, compared with the consensus call of a penny among Wall Street analysts tracked by FactSet. Revenue cam

Bu Tan, announced that it's laying off staff and tightening its return-to-office rule as the Bay Area giant tries to right its course.

Intel CEO Lip Bu-Tan announced a series of sweeping measures today, including an unspecified number of layoffs, a company restructuring, the elimination of non-core products, and a return-to-office mandate,

Investors are looking for more indication of what the new CEO has in mind for the struggling chipmaker. Lip-Bu Tan will oversee his first quarterly earnings report and call as Intel CEO on Thursday, with investors looking for more indication of what he has in mind for the struggling chipmaker.