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"The arrival of the AI PC represents an inflection point in the PC industry," said Intel CEO Pat Gelsinger. AMD boss Lisa Su said she "expected some growth going into 2024 as we think about sort of the AI PC cycle and some of the (Microsoft) Windows refresh cycles".
Intel rose more than 9% on Friday and sparked a jump in chip stocks after its upbeat forecast signaled that the personal computer market was rebounding from its quarters-long slump. Other chip firms such as AMD, Nvidia and Arm rose 1% to 2%. Under CEO Pat Gelsinger, Intel is trying to turn around its business by making heavy infrastructure investments that the firm hopes will give it an edge in chipmaking and allow it to compete with the likes of Taiwan's TSMC for foundry clients.
(Bloomberg) Intel Corp. surged the most in nearly three years after predicting a return to sales growth in the fourth quarter, fueled by an improving personal computer market and a more competitive product line.Most Read from BloombergIsrael Latest: Iranian Minister Warns US Over Support of IsraelHouse Speaker Mike Johnson’s First Big Bill Cuts Biden’s Climate Change FundingS&P 500 Extends Slide From Its July Peak to 10%: Markets WrapEverything Apple Plans to Launch at Oct. 30 ‘Scary Fast’ Ma
(Bloomberg) Intel Corp. surged in late trading after predicting a return to sales growth in the fourth quarter, fueled by an improving personal computer market and a more competitive product line. Most Read from BloombergTech Giants Signal Rebound as Amazon, Intel Rally: Markets WrapControversial Chip in Huawei Phone Produced on ASML MachineUS Economy Grew at a 4.9% Pace Last Quarter, Fastest Since 2021Israel Latest: Israel Says Key Planner of Oct. 7 Attacks KilledWhat Happened Inside Morgan