Reported 2 months ago
Intel Corp. has projected disappointing third-quarter revenue of $12.5 to $13.5 billion, falling short of analyst expectations, and plans to cut over 15,000 jobs as it struggles to compete in the AI market. CEO Pat Gelsinger acknowledged challenges ahead, noting that both costs and margins need improvement. The company's stock dropped significantly after the announcement, reflecting ongoing struggles against competitors like Nvidia and AMD.
Source: YAHOO