Intel Cancels Innovation Event Amid Cost Cuts and Restructuring

Intel Corp. has postponed its Innovation event that was planned for next month in California. The company will instead prioritize other events like webinars and the Intel AI Summit. This decision comes after a recent earnings report where Intel gave a weak sales forecast, reduced its dividend, and announced a 15% workforce reduction. CEO Pat Gelsinger had introduced the annual Innovation event to help Intel regain its technological leadership.