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After hours:
- Yahoo Finance
Intel reports better than expected Q1 earnings but falls short on revenue outlook. Stock slides more than 5%.
Intel reported its Q1 earnings on Thursday, beating analysts' estimates. But a disappointing outlook sent shares sliding.
- Reuters
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
Beijing city authorities have announced subsidies for firms that purchase domestically produced artificial intelligence (AI) chips, as China seeks to develop its semiconductor industry and reduce reliance on foreign technology. The sizes of subsidies were not specified in a document outlining the initiative by the Beijing Municipal Bureau of Economy and Information Technology dated April 24. "Companies that purchase domestically controlled GPU chips for intelligent computing services will receive support based on a certain percentage of their investment," the document showed, referring to chips known as graphics processing units (GPUs).
- Reuters
UPDATE 1-Intel forecasts second-quarter revenue below estimates
Intel forecast second-quarter revenue and profit below market estimates on Thursday, as it faces weak demand for its traditional data center and personal computer chips amid efforts to build its contract manufacturing business. Enterprises have prioritized spending on advanced and speedy AI server chips, hurting demand for Intel's central processing units (CPUs), which have been the mainstay chip powering data centers for decades. According to analysts, a surging demand for graphics processing units (GPUs) useful for AI applications has reduced the appetite for CPUs, which are Intel's main product.
