News Mania Desk/7th August 2024
Intel Corporation has recently released its financial results for the second quarter of 2024, highlighting several key developments. The company’s total net revenue for Q2 2024 was $12.8 billion, a slight decline of 1% compared to the previous year. Despite this overall drop, certain segments showed positive growth, such as the Client Computing Group (CCG), which saw a 9% increase in revenue, driven by strong sales of AI-powered PCs. Intel’s next-generation AI CPU, Lunar Lake, achieved production release ahead of schedule and is expected to power over 80 new Copilot+ PCs by various OEMs.
In terms of strategic initiatives, Intel has announced a $10 billion cost reduction plan aimed at increasing efficiency and market competitiveness. The company is also advancing its five-nodes-in-four-years strategy, with Intel 18A on track to be manufacturing-ready by the end of the year. Additionally, Intel is making significant strides in its AI and data center segments, with new product launches and industry collaborations expected to drive growth and profitability in the coming years.
