Although Intel’s revenue fell 8% from a year earlier, marking its seventh straight quarter of sales; The chipmaker expressed optimism, saying it expects revenue to increase this quarter. The company plans to achieve this with cost-cutting measures of approximately $3 billion in the future.
Intel’s business segments showed mixed results:
-
Customer IT Group SalesIts turnover, which includes processors for laptops and PCs, fell 3% to $7.9 billion.
-
In the Data Center and Artificial Intelligence sectionThe company’s sales, which supply server chips, fell 10% to $3.8 billion due to competitive pressure and a shrinking server processor market.
-
Mobileye, a subsidiary of IntelThe company, which specializes in the production of parts for driverless cars, reported that its sales increased by 18% to $530 million.
-
Intel Foundry Services RevenueThe total amount of the microcircuit manufacturing company amounted to $ 311 million, which is almost 300% more.
In line with its ambitious plan, Intel remains committed to reaching TSMC’s chip technology by 2025. The company also announced interest in producing chips for Arm-based PCs.
Source: Ferra
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
