Intel postpones their Innovation 2024 event, citing poor financials
Intel Innovation has been postponed until 2025 – Intel is cutting costs
Update – Intel has provided us with the following statement regarding their Arrow Lake CPU launch. As expected, the postponement of Intel Innovation 2024 will not impact the company’s Arrow Lake desktop CPU launch plans. Intel will make “significant announcements this fall”, and Arrow Lake will launch this year.
There are no changes to Intel’s launch plans, timing, or product readiness. We are excited about the new product announcements and momentum we have in store, including significant announcements this fall. We’ll share more details on our next-gen desktop processor products, codenamed Arrow Lake, later this year.
– Intel to OC3D
Original Article follows
Intel has announced that they have postponed their Intel Innovation 2024 event. This event was to be hosted in Los Angeles on September 24th and 25th, and was rumoured to be the launch event for the company’s upcoming “Arrow Lake” desktop CPUs.
Intel has stated that they now plan to host a new Innovation event in 2025. Some analysts have speculated that this could mean that Arrow Lake has been delayed. After all, Intel Innovation events have hosted Intel’s Alder Lake, Raptor Lake, and Meteor Lake CPU launches. We believe that an Arrow Lake delay is unlikely, as Intel doesn’t necessarily need to launch Arrow Lake at an in-person “Innovation” event.
After careful consideration, we have made the decision to postpone our Intel-hosted event, Intel Innovation in September, until 2025. For the remainder of 2024, we will continue to host smaller, more targeted events, webinars, hackathons and meetups worldwide through Intel Connection and Intel AI Summit events, as well as have a presence at other industry moments.
– Statement from Intel Innovation website
Why as Intel postponed their Innovation 2024 event?
Intel is going through a tough time. The company has reported Q2 losses of $1.6 billion. This has resulted in Intel taking measures to cut costs. This includes laying off over 15% of their workforce. Additionally, the company now faces a lawsuit over the company’s $32 billion drop in value.
Why has Intel delayed their latest Innovation event? Simply put, costs. Intel plans to spend less money in the latter half of 2024. Basically, Intel Innovation is an expensive event to host, and Intel are no longer willing to spend that money. They will use other means to announce their latest achievements, and likely postpone some announcements until a later date. Below is what Intel had to say to PCMAG about the event’s delay.
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. We express sincere appreciation to our partners, sponsors, exhibitors, developer communities and our larger team who had committed to support and attend the event.
Intel will be present at IFA 2024 in Germany this September. At this event, Intel will be launching Lunar Lake. Now, it is possible that Intel will be revealing more at IFA 2024, given their postponement of Intel Innovation later that month.
You can joint he discussion on Intel postponing their 2024 Innovation event on the OC3D Forums.
