Intel Corp. shares plunged as much as 14% in late trading after Chief Executive Officer Lip-Bu Tan gave a lackluster forecast and warned that the chipmaker was struggling with manufacturing problems.

By Arsheeya Bajwa Jan 21 (Reuters) - Intel shareholders are optimistic about the company's results like they have not been for many quarters, betting the turnaround CEO Lip-Bu Tan promised was taking root and that rapid data center build outs were fueling strong demand for its traditional server chips.

Intel let a little air out of Wall Street’s superheated enthusiasm for the chipmaker Thursday, reporting middling financial results and warning of a slow quarter ahead. Shares dropped 6% in after-hours trading.

During an earnings call on Thursday, Intel CFO David Zisner says the company was “relatively aggressive in terms of getting memory” ahead of the global shortage for its previous-gen Lunar Lake chips,

US chipmaker Intel on Thursday gave a downbeat revenue outlook, with executives citing “industry-wide” supply chain constraints hampering its growth.

By Arsheeya Bajwa and Max A. Cherney Jan 22 (Reuters) - Intel said on Thursday it struggled to satisfy demand for its server chips used in AI data centers, and forecast quarterly revenue and profit below market estimates,

Intel said Thursday it expects its CPU shortage to peak in the first quarter as the company indicated that the ongoing AI data center boom is creating unexpectedly high demand for server chips.

The troubled chip maker has seen its shares rise with AI demand and new investors, but revenue sagged 3.9% year-over-year to $13.7 billion.