Remember the 486, Intel’s 1989 flagship CPU that was the first x86 chip with over a million transistors? Gelsinger was the lead architect. Later, he became Intel’s first CTO, helping push industry standard technologies like USB and Wi-Fi as well as Intel chip design. Just how bad was it before Gelsinger took the top job?

Analysts expect a shake-up to Intel’s foundry business on the heels of Pat Gelsinger’s dramatic exit. Intel’s stock has plummeted 61% since Gelsinger took the helm in February 2021, according to Dow Jones Market Data.

Key Takeaways Intel shares finished lower following the announcement that CEO Pat Gelsinger has retired, effective yesterday.The chipmaker announced a pair of interim co-CEOs as its search for a permanent replacement is underway.

The CEO of Intel is leaving the company as it struggles to reinvent itself. Why it matters: Investors fear Intel is falling behind in the AI chip wars against booming AI titans like Nvidia. Driving the news: Pat Gelsinger abruptly retired as of Sunday after 40 years with the company and a nearly four-year stint as CEO,