Intel suffered its worst ever stock market plunge on Friday, as fears surrounding AI triggered a tech rout on Wall Street.
The chip maker fell by more than 30pc after warning of a slowdown in PC sales. It blamed the weak fourth-quarter forecast on AI data centres’ seemingly insatiable demand for microprocessors, which has pushed up the price of computers and led to a shortage of components.
Dan Ives, an analyst and partner at Yorkville Ives, said Intel’s PC chip division “was a disaster this quarter driven by higher memory prices/supply issues caused by the AI buildout”.
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