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- Intel is laying off many Israeli employees, with a notable number opting to join NVIDIA in 2024. This includes experienced chip design and hardware specialists.
- Workers transitioning from Intel to NVIDIA are experiencing significantly higher compensation packages.
- There has been a recent spike in former Intel employees joining various tech firms, not only NVIDIA but also companies like Apple, Amazon, and Mobileye.
As reported, Intel will lay off many Israeli employees, some of whom have opted to join NVIDIA, as part of its global layoff announcements.
Why It Matters: The layoffs at Intel may signal deeper challenges within the company, affecting its long-term competitiveness and market position.
According to a report by Globes, at least thirty Intel workers, including seasoned workers with over ten or twenty years of experience, are expected to join NVIDIA’s Yokneam and Tel Aviv locations in 2024.
These workers include chip design software developers, hardware architecture specialists, power managers, and core processor development engineers. That said, the compensation packages for workers who switched from Intel to NVIDIA have also increased.
Data from the levels.fyi website indicates that junior hardware engineers at NVIDIA start with 566,000 new shekels (roughly $152,000) annually, or $12,600 per month. This is 33% more than Intel’s average starting salary.
Stock options are the most significant distinction. In contrast to NVIDIA, which offers an annual stock option package valued at $15,000, Intel hardware engineers receive a package of $5,200 annually.
According to the data, the majority of former Intel workers who joined NVIDIA this year did so in recent months, with a substantial spike in departures this month. Other former Intel workers in Israel have gone on to work for other large tech firms, such as Apple, Amazon, and Intel subsidiary Mobileye.
A smaller percentage have switched to Google, Microsoft, and Huawei, a Chinese business with a development centre near Haifa, according to the research.
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[News Reporter]
Malik Usman is student of Computer Science focused on using his knowledge to produce detailed and informative articles covering the latest findings from the tech industry. His expertise allows him to cover subjects like processors, graphics cards, and more. In addition to the latest hardware, Malik can be found writing about the gaming industry from time to time. He is fond of games like God of War, and his work has been mentioned on websites like Whatculture, VG247, IGN, and Eurogamer.
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