Overview
- Intel issued guidance for fourth‑quarter revenue of $15 billion to $16 billion and much lower adjusted earnings and margins, prompting a steep market reaction on the company’s Oct. 30 report.
- Shares fell roughly 25–29% on Friday, Oct. 30, wiping tens of billions from Intel’s market value and cutting about $12 billion from the reported value of the US government’s roughly 10% stake.
- The company said data‑center and AI revenue grew about 78% year over year to roughly $7.3 billion in the quarter even as client PC sales declined, showing a sharp split between its businesses.
- Intel blamed an October accident and extended shutdown at a fabrication plant in Israel for constrained shipments, with published estimates of the lost revenue ranging from roughly $300 million to $600 million.
- Investors broadened their selloff to other tech names and chipmakers as concerns rose over heavy AI capital spending, higher memory prices pushing up PC costs, and the timing of returns on large infrastructure investments.