Today’s earnings call is notable as the first for the company since Lip-Bu Tan (pictured) took over the reins as the company’s new chief executive. He joined the company in March, ending its months-long search for a successor to previous CEO Pat Gelsinger, who was forced to resign in December amid pressure from board members and investors.

With its legacy on the line, the chip giant’s drastic restructuring reveals a company fighting to redefine its place in an AI-dominated world.

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