Intel shares fell 28.6% on Friday, 30 October 2026, causing the company's market value to shrink by more than $140 billion during a single trading session.
The stock closed at $65.76 following the announcement of third-quarter revenue totaling $16.5 billion. This revenue figure represented a 21% rise compared to the same period last year. Intel expects its fourth-quarter revenue to reach between $15 billion and $16 billion, falling short of the $17 billion estimated by analysts.
Data Center and AI division revenue grew 78% year-on-year to reach $7.3 billion. The Trump administration's investment in Intel, which reached a stake of approximately 10% in August 2025, lost about $11 billion in value, dropping to roughly $12 billion.
Lip-Bu Tan stated that customers had already begun alerting the firm about declining PC sales due to restricted component availability and higher memory prices. Tan added that businesses with constrained IT budgets faced extra pressure from increasing computer prices. Intel anticipates that the current slowdown in demand for personal computers will persist until at least the first half of 2027.
One manufacturing facility in Arizona is currently operational, while another site is not scheduled to open until 2028. Nvidia made an investment in Intel during 2025.
