The hits just keep on coming for Intel. AMD’s Epyc chips are gobbling up market share in data centers while Intel’s desktop chips are frying themselves after years of being stuck on a stalled architecture.

At the time, Intel CEO Pat Gelsinger said the company would stop all nonessential work and has since announced it will spin off its chipmaking business, a part of the company that it had long touted as a strength over rival AMD and the many fabless chipmakers that rely on entities like Taiwan’s TSMC to produce all of their actual silicon.

Wall Street investors and analysts shrugged off a report that Qualcomm had made an offer to buy Intel, concluding that the chances of such a deal coming together are extremely remote. “We believe the challenges overwhelm the potential benefits,