Intel is in the process of shedding many non-core products and related assets while showing very positive results in its current and future products.

It happened so abruptly that Intel doesn’t have a planned successor in mind, and so completely that Gelsinger won’t even stick around as an adviser. He’s gone. Intel has been in a tailspin for years.

"Mr. Gelsinger's sudden departure leaves us unsure of the strategic path ahead for Intel," one analyst says, capturing a common sentiment.

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.