San Francisco, July 28 During the Q2 2023 earnings call, Intel CEO Pat Gelsinger said that the company plans to "build AI into every product that we build".
Intel will launch Meteor Lake later this year, its first consumer chip with a built-in neural processor for machine learning tasks, according to The Verge.
At Microsoft’s Build 2023 conference, the company announced the collaboration with Microsoft to drive the development of AI on personal computing, and previewed AI-enabled capabilities of its Meteor Lake client PC processors.
Moreover, Intel reported $12.9 billion in revenue for the quarter that ended July 1, a decrease of 15 per cent (year-over-year), plus it reported a net income of $1.5 billion for the quarter and $2.8 billion in cash from operations.
The company forecast revenue of about $12.9 billion to $13.9 billion for the third quarter.
“Our Q2 results exceeded the high end of our guidance as we continue to execute on our strategic priorities, including building momentum with our foundry business and delivering on our product and process roadmaps," said Gelsinger.
"We are also well-positioned to capitalise on the significant growth across the AI continuum by championing an open ecosystem and silicon solutions that optimise performance, cost and security to democratize AI from cloud to enterprise, edge and client,” he added.
Intel also announced an industry-first implementation of backside power using Intel PowerVia in a test chip, resulting in notable performance and efficiency gains.
PowerVia will be incorporated into Intel 20A, expected to launch in the first half of 2024.
“Strong execution, including progress towards our $3 billion in cost savings in 2023, contributed to the upside in the quarter. We remain focused on operational efficiencies and our Smart Capital strategy to support sustainable growth and financial discipline as we improve our margins and cash generation and drive shareholder value,” said David Zinsner, Intel CFO.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor