Intel shares tumble as supply chain snarls hamper turnaround


FILE PHOTO: A smartphone with an Intel logo displayed is placed on a computer motherboard in this illustration created on March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Jan 23 (Reuters) - Intel's shares ‌plunged 14% on Friday after the company struggled to meet strong artificial intelligence-driven demand for ‌data-center chips due to supply constraints, disappointing investors betting on its turnaround.

After years of sitting ‌out the AI boom that turned Nvidia into the world's most valuable company, Intel is finally enjoying a demand surge for its traditional server chips that are used alongside advanced graphics processors in data centers.

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