Worth knowing
Intel’s stock crashes, knocking $12B from government’s stake
High demand from the AI sector for memory and hardware components is creating supply chain bottlenecks and driving up costs in the broader PC market.
Reported by TechCrunch ·
What happened
Intel's stock dropped approximately 28% after the chipmaker issued a weaker-than-expected fourth-quarter revenue forecast of $15 billion to $16 billion and warned of declining profit margins. CEO Lip-Bu Tan attributed the slowdown in PC sales to the AI industry consuming memory and other components, which has driven up hardware prices despite a 78% year-over-year growth in Intel's data center business.
Who it’s about
- Intel
- Lip-Bu Tan
- Nvidia
- TSMC
Source
More on chips
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