Pat Gelsinger has unexpectedly resigned as CEO of Intel, a move likely linked to disappointing company performance and strong competition in artificial intelligence from rivals like Nvidia. Despite a history of dominance in chip production, Intel’s market value has plummeted over 50% in the past year, leading to significant layoffs. Following the announcement, Intel’s stock rose by 3%. Analysts believe that without a revised strategy focused on AI, Intel may struggle to regain its competitive edge.