Last week, Intel announced that it would lay off around 15,000 of its employees, or about 15 percent of its workforce, as part of an effort to reduce spending by a total of $10 billion. This week, Intel revealed another part of its cost reduction efforts by canceling its plans to hold the 2024 Intel Innovation developer conference. The event was to have taken place in less than two months on September 24-25 in San Jose, California.
PCMag reports that while the Innovation 2024 site is still up and running, people who try to register, or have already registered, are getting a message stating the company has, " . . . made the decision to postpone our Intel-hosted event, Intel Innovation, in September until 2025." The message added that the company will continue to host smaller events, and also participate in industry events.
PCMag also got a response from an Intel spokesperson about the cancelation, which said in part:
Given our financial results and outlook for the second half of 2024, which is tougher than previously expected, we are having to make some tough decisions as we continue to align our cost structure and look to assess how we rebuild a sustainable engine of process technology leadership.
Intel Innovation is a relatively new developer event for the company. The first was held in 2021, and Intel also hosted Innovation events in 2022 and 2023.
The cancelation of the 2024 event means Intel will use smaller press and developer events to reveal new CPU and GPU products. Indeed, the company has already confirmed it will use the IFA conference in Berlin to reveal more details on its next-generation Ultra Core CPUs in a press event on September 3. The event, which will be livestreamed, will showcase the chips that will use Intel's "Lunar Lake" architecture.
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