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Intel earnings lower guidance, lay out $10 billion cost reductions - Phoenix Business Journal

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One of Arizona's largest employers said it will drive $3 billion in cost reductions in 2023. phoenix $INTC

Here’s how the company’s business units performed in the third quarter:

Datacenter and AI Group, which includes accelerators and FPGAs, reported revenue of $4.2 billion, down 27% versus last year. The company cited lower server volume and customer inventory reductions.Accelerated Computing Systems and Graphics, reported revenue of $185 million, up 8% versus last year. Intel Foundry Services, which provides manufacturing and packaging for third-party customers, reported revenue of $171 million, down 2% versus last year.

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