Intel expects Q1 revenue $12.42B as AI chip supply slows
Intel is running into supply chain problems that are slowing down its production of AI chips.
Because of this, the company expects its first-quarter revenue to drop by nearly 2% to $12.42 billion, with profits taking a hit too.
Still, Intel's data center and AI business is actually set to grow by almost 7%, so it's not all bad news.
Intel expects Q2 relief, develops 18A
Intel thinks its server chip shortages will start easing up by the second quarter, which could help it catch up with demand for AI tech soon.
The company is also teaming up with Google and joining Elon Musk's Terafab project to boost its AI game.
Plus, it is working on new manufacturing tech (called 18A) to make its chips more efficiently, a move analysts say could really help it stay competitive as more companies want powerful AI hardware.