Intel posts biggest Q1 loss as chip sales collapse

By Agence France-Presse

Apr 29, 2023 12:05 am

SAN FRANCISCO, California: Intel on Thursday posted a massive fall in sales for the first quarter of 2023 because of a steep drop in the demand for semiconductors or chips that power personal computers and smartphones.

Intel's revenue fell 36 percent to $11.7 billion in the three-month period, and the semiconductor giant posted a loss of $2.8 billion, its biggest ever for a quarter.

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