shares slumped more than 12 per cent on Friday after a downbeat forecast signaled that the boom in AI was diverting enterprise spending away from its traditional data center chips.
, according to LSEG data. Intel is planning a $100-billion spending spree across four U.S. states to build and expand factories. It also unveiled a new AI chip earlier this year to keep up with competition. Businesses have prioritized spending on advanced and speedy AI server chips, hurting demand for Intel’s central processing units, which had long been the mainstay chip powering data centers.
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