During the Q2 2023 earnings call, Intel's CEO, Pat Gelsinger, unveiled the company's ambitious plan to integrate artificial intelligence (AI) into every product they build. This strategic move aims to embed AI capabilities across all their platforms, signalling Intel's commitment to embracing the power of AI in its future offerings.
As part of this initiative, Intel is set to launch Meteor Lake later this year, marking its first consumer chip with a built-in neural processor designed specifically for machine learning tasks. The incorporation of a neural processor will enable enhanced AI-driven functionalities on consumer devices.
Furthermore, Intel announced a collaboration with Microsoft to drive the development of AI in personal computing. The partnership aims to leverage AI-enabled capabilities in Intel's upcoming Meteor Lake client PC processors. This collaboration highlights the growing importance of AI in the world of personal computing and demonstrates Intel's dedication to staying at the forefront of this technology.
Despite facing a 15% year-over-year decrease in revenue, Intel reported $12.9 billion in revenue for the quarter ending on July 1. However, the company remains optimistic about the future and forecasts revenue in the range of $12.9 billion to $13.9 billion for the third quarter.
Intel's CEO, Pat Gelsinger, expressed confidence in their strategic priorities, including building momentum with their foundry business and delivering on product and process roadmaps. He also emphasized the company's position to capitalize on the significant growth potential in the AI space by promoting an open ecosystem and offering silicon solutions optimized for performance, cost, and security. This approach aims to make AI more accessible and democratize its applications across various domains, from cloud to enterprise, edge, and client devices.
Additionally, Intel unveiled an industry-first implementation of backside power using Intel PowerVia in a test chip, resulting in significant performance and efficiency gains. This innovation is expected to be integrated into Intel 20A, set to launch in the first half of 2024.
The company remains committed to driving operational efficiencies and implementing its Smart Capital strategy to support sustainable growth, financial discipline, and improved margins. As they pursue their goal of achieving $3 billion in cost savings in 2023, Intel is determined to enhance shareholder value and maintain its position as a leading player in the technology industry.
Inputs from IANS