Can anyone genuinely rescue Intel from its current predicament? The company's missed mobile and AI chips opportunities have left it playing catch-up in critical markets.

Intel's CEO is stepping down as the stalwart American chipmaker has struggled to keep pace with the artificial intelligence revolution. The company announced that Pat Gelsinger, who'd led Intel since 2021 and logged more than 30 years in various positions with the chipmaker, had retired from the company effective Sunday.

Remember the 486, Intel’s 1989 flagship CPU that was the first x86 chip with over a million transistors? Gelsinger was the lead architect. Later, he became Intel’s first CTO, helping push industry standard technologies like USB and Wi-Fi as well as Intel chip design. Just how bad was it before Gelsinger took the top job?