Intel's missed AI opportunity might prompt it to pump the brakes on its $32 billion Magdeburg project and sell Altera to keep the lights on

Intel Meteor Lake from Intel Technology Tour 2023 in Malaysia.

What you need to know

• Intel is expected to make a new business proposal to its board of directors in mid-September, highlighting budget cuts and the sale of assets.
• The chipmaker has struggled to exploit the AI wave, prompting layoffs affecting up to 15,000 people. 
• The company might be forced to cancel its Magdeburg chip fab project and sell Altera to keep its operations running.