Intel forecast misses estimates; shares tumble

ETtech.com— Intel forecast second-quarter revenue and profit below market estimates on Thursday, sending its shares tumbling roughly 8% as it faces weak demand for its traditional data center and PC chips and trails in the surging market for AI components. Businesses have prioritized spending on advanced and speedy artificial intelligence server chips, hurting demand for Intel's central processing units (CPUs), which have been the mainstay chip powering data centers for decades. Helped by its software,...

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Bloomberg.com—Mastercard (MA) Cuts Forecast, Network Spending Misses Estimates. Mastercard Inc. cut its forecast for revenue growth for the year and spending on the payments giant's network missed estimates. Growth in...

CNBC—Intel shares fall after providing weak forecast for the current quarter. Intel's report was the first since the company revealed that it had restructured its financial reports to make Intel Foundry a separate line item.