Chipmaker Intel falls as AI competition hurts forecast
Intel forecast second-quarter revenue of $12.5 billion to $13.5 billion, compared with analysts' average estimate of $13.57 billion, according to LSEG data.
Intel forecast second-quarter revenue of $12.5 billion to $13.5 billion, compared with analysts' average estimate of $13.57 billion, according to LSEG data.
The release of Huawei's first AI-enabled laptop, the MateBook X Pro powered by Intel's new Core Ultra 9 processor last week, drew fire from Republican lawmakers, who said it suggests that the Commerce Department had given the green light to Intel to sell the chip to Huawei.
Intel predicts lower Q2 revenue and profit, shares down 8%. Weak demand for data center, PC chips. Nvidia leads AI market. Gelsinger optimistic about Intel rebound.
Mobileye, owned by Intel, said net loss widened to $218 million in the quarter from $79 million a year ago, weighed down by a slump in sales.
Kevin Zhang, TSMC's senior vice president of business development, told reporters that the company has developed its new A16 chipmaking process faster than expected because of demand from AI chip firms, without naming specific customers.
Mega Networks is one of two Indian companies to be selected for the production-linked incentive (PLI) scheme 2.0 for IT hardware, under which the government provides an incentive of around 5% on net incremental sales of goods manufactured in India.
Viswanathan took charge as Vice President and Managing Director for the Indian market in July 2022. Now Intel has carved out India as a separate region.
"We agreed to the pricing when we committed to the tools and we would not have done that if we were not confident there were cost-effective uses for it," Intel's director of lithography Mark Phillips said in a briefing with journalists.
"The industry needs fundamentally new approaches capable of scaling. For that reason, we developed Hala Point, which combines deep learning efficiency with novel brain-inspired learning and optimisation capabilities," Mike Davies, director of the Neuromorphic Computing Lab at Intel Labs, said in a statement.
Intel's China-specific AI chips are based on the company's latest Gaudi 3 product line, which was unveiled on April 9, with similar hardware features including on-chip memory, high-bandwidth memory, and interface standards.
Huawei's unveiling Thursday of its first AI-enabled laptop, the MateBook X Pro powered by Intel's new Core Ultra 9 processor, shocked and angered them, because it suggested to them that the Commerce Department had approved shipments of the new chip to Huawei.