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Intel Corporation, known for its high-performance personal computer processors,  experienced a severe decline in its stock value during the last trading  session.

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Historically known for producing cutting-edge chips,  Intel Corporation now finds itself trailing industry giants such as Nvidia  Corp and Taiwan Semiconductor Manufacturing Co.

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Intel’s manufacturing unit, recorded revenues totaling $18.9 billion for  2023 – down from the $27.5 billion recorded the prior year – with  earnings totalling $4.4 billion during its inaugural quarter in 2024.

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Santa Clara, California-based company reported a profit of 18 cents per share, net of items

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Revenues reached approximately $12.7 billion. Analysts had expected  earnings of 13 cents per share and revenue around $12.70 billion  respectively for this quarter.

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Recorded revenues totaling $18.9 billion for 2023 – down from the $27.5  billion recorded the prior year – with earnings totalling $4.4 billion  during its inaugural quarter in 2024.

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Intel Stock is confident about their second quarter financial performance  following the launch of their Gaudi chip iteration 3.0 AI accelerator.

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Gelsinger announced that Intel Corp has secured another client for its  18A manufacturing technology which is set to debut in 2025.

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