Microchip maker Intel's shares slumped more than 12 per cent on Friday after a downbeat forecast signalled that the boom in Artificial Intelligence was diverting enterprise spending away from its traditional data centre chips.
The stock has fallen around 30 per cent so far this year as Intel trails rival chip companies such as Nvidia, opens new tab in producing advanced AI chips and components.
Intel forecasts second-quarter revenue of $12.5 billion to $13.5 billion, compared with analysts' average estimate of $13.57 billion.
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