Intel's AI Business Grew 78%. So Why Did the Stock Just Crash 30%?

Intel shares dropped nearly 30% to $65.15 on Friday morning, erasing more than $100 billion of the chipmaker’s market value, after it forecast fourth-quarter revenue roughly $1.57 billion below what Wall Street expected. Hours earlier, Intel had reported that its data center and AI business grew 78%, its fastest pace in 15 years. The market did not care. It was looking at the PC business, and at what the AI boom is doing to it. Why 78% AI Growth Could Not Save Intel’s Forecast The quarter itself beat estimates, with revenue up 21% to $16.5 billion, according to Intel’s results . The punishment is for the forecast, not the quarter. Intel guided fourth-quarter revenue of $15 billion to $16 billion. Analysts had modeled roughly $17 billion.

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