Can anyone give an explanation in layman's terms for those of us finance/economic illiterate why this is happening?
The demand for compute for AI is increasing, why would a compute producer lose value?
The demand for compute for AI is increasing, why would a compute producer lose value?
Their server CPUs are quite competitive and relevant for agentic stuff, but AMD CPUs are arguably better and every hyperscaler (and NVIDIA) has their own ARM based CPU nowadays.
On the GPU/AI accelerator side, they have basically nothing. Gaudi is dead, all the Ponte * accelerators are heavily delayed, Xe based GPUs are not competitive.
On client (think gaming and office PCs), memory has gotten so expensive that nobody buys new machines right now.
Again, not going to be "the" product to turn things around. But a very smart offering that no one else is doing, if they can price it ok. Which is barely in their control, given that it's once again overwhelmingly ram (by cost share).
Such a pity. Panther Lake and Wildcat are both really excellent chips. What a bad run of timing for an Intel that finally seems arising.
As for a cause, I read an article this morning about some kind of capex miss for Google, MSoft, Amazon and some AI revenue miss at ServiceNow and the analyst has declared the bubble pop underway. _Don’t read too much into that though_, analysts makes this claim and the inverse every single week.