On the plus side, they killed Bitcoin mining ASICs
Intel didn’t bring good news to investors this quarter. It reported the biggest loss in the company’s history and a 133% annual profit decline. Unfortunately, this news is not unexpected. Demand for new computers and components continues to fall. No one expects good news in the next quarter either.
As Ars Technica points out, some of the Intel-specific issues, such as the delayed release of Sapphire Rapids, have helped AMD grab an even bigger share of server sales. That increase helped AMD’s revenue, but it still faces a tough 2023. Intel’s revenue fell 36% year-on-year to just $11.7 billion. It’s a little over $40 million, but it’s nowhere near where it was last year at this point.
We don’t know how much revenue Arc GPU sales account for, as the AXG graphics division was absorbed into the Client Computing and Data Center group and no longer reported separately. While it may be difficult to manage after last year’s layoffs, Intel’s losses could lead to further job cuts. It’s that time of year, so keep an eye out for more earnings reports.
