Intel battered by falling PC sales and rivals’ progress

Intel has just announced the worst results in its history, but its CEO says he is confident for the future. Since taking over at Intel in early 2021, Pat Gelsinger has set itself an ambitious goal: to build new factories in the United States and Europe, while opening the doors of its foundries to other chip manufacturers to make these heavy investments profitable.

Pending the completion of this industrial reconquest, Intel’s turnover collapsed in the first quarter. Its sales amounted to 11.7 billion dollars in three months, down 36% compared to the same period last year. The group, which was already in the red in the last quarter of 2022, accumulated $ 2.8 billion in losses between January and March. This is, by far, the worst loss ever recorded by the semiconductor manufacturer.