Intel Postpones “Innovation 2024” Event Amid Financial Woes But Will Continue With Smaller Events

Intel has postponed its Innovation 2024 event, marking a major setback for Team Blue which faces major challenges & not just financially.

It seems like Intel is in a tough situation at the moment. With the major instability problems with its high-end CPUs and its massive layoff of about 15000 employees, Intel is taking a step back from the upcoming Innovation 2024 event, which was planned for 24-25 September. The Innovation event was scheduled in San Jose, California but it notified the attendees on Thursday about the postponing of the event.

The company issued a notice about the event saying, "After careful consideration, we have decided to postpone our Intel-hosted event, Intel Innovation in September, until 2025." Intel is straight away canceling the event this year, which is an annual event for developers and technology specialists. It's also the event where Intel was supposed to show off its upcoming desktop and laptop CPU lineups.

The event will now be held in September of 2025 as usual but the company also said, "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."

As reported by PCMag, Intel told the publication, "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 is in a tight position as we know the company isn't quite there in its financial conditions. The financial results have led the company to decide to fire around 15,000 employees to cut costs. Combine that with the Intel 13th and 14th gen processors drama, the company has received a lot of backlash from customers around the world. While Intel is working on the fix for the latter, it is still in a difficult position to reach its financial goals.

Postponing the event company may have some negative impacts on the company's goals for its Arrow Lake and Lunar Lake launch because AMD has already exerted its efforts for the launch of its Ryzen 9000 CPUs, some of which we have reviewed recently. The preparations for the event were already underway, therefore, Intel took its time to appreciate the efforts of its partners, sponsors, exhibitors, and developer communities.