The big picture: Intel CEO Pat Gelsinger might be feeling like the captain of the Titanic right now, desperately trying to stop Chipzilla from sinking any further as it lurches from one crisis to another. The issues with the Raptor Lake CPUs are just the tip of the iceberg as Intel deals with a declining share in CPU markets, a class action lawsuit, poor financial results, mass layoffs, and Moody's downgrading its senior unsecured rating. It's all led to Team Blue postponing its September Innovation event until 2025.