S&P Global Ratings on Tuesday downgraded chipmaker Intel Corp's credit rating to 'BBB' from 'BBB+', on slow business recovery and uncertainty following management changes.

In its most recent move, S&P Global called out Intel's underperformance across the board this year as IT dollars continue to flow to AI-related hardware

Finance house finds x86 giant's lack of strategy disturbing Intel's troubles continue to compound after S&P Global on Tuesday downgraded its credit rating, citing concerns about the chipmaker's pace of recovery and management uncertainty.