Intel is effectively killing Falcon Shores, its next-generation GPU for high-performance computing and AI workloads.

Intel's next-generation AI and HPC GPU will only be used internally, Jaguar shores will be the real successor for Gaudi 3 in the AI space.

Former CEO Pat Gelsinger was ousted last month, well before the completion of his four-year plan to turn around the company from years of missteps in its manufacturing operation and missed opportunities around the artificial intelligence boom that have left the erstwhile American chipmaking icon far behind its rivals.

Intel on Thursday posted December-quarter results that beat analysts' low expectations, while its forecast for current-quarter revenue missed estimates as the chipmaker grapples with tepid demand for its data center chips and as investors wait for a new CEO.

The company reported earnings before certain costs such as stock compensation of 13 cents per share, squeezing past Wall Street’s consensus estimate of 12 cents per share. Revenue for the quarter came to $14.26 billion, up 7% from a year ago and ahead of the Street’s target of $13.81 billion.