Intel earlier announced its second-quarter fiscal 2022 financial results, showing revenue of $153.21 billion, a 22% decrease year-over-year, resulting in a loss of $4.54 million, a 109% decrease compared to the previous year. Intel attributed the loss to a decrease in demand for data center chips and a subsequent decline in PC demand.
At the same time, Intel CEO Pat Gelisinger expects that revenue performance in the third quarter may decline due to customers' inventory reduction, but expects this situation to improve in the fourth quarter of this year.
The detailed financial report shows that the Client Computing Group's revenue reached $77 billion, a 25% decrease year-over-year. The Data Center and Artificial Intelligence Group's revenue reached $46 billion, a 16% decrease year-over-year. The Network and Edge Group's revenue reached $23 billion, an 11% increase year-over-year. Meanwhile, the Accelerated Computing Systems and Graphics Group's revenue reached $1.86 million. Furthermore, Intel's foundry service, IFS, generated $1.22 million in revenue.
Mobileye, the autonomous driving business still within Intel's system, had revenue of US$4.6 million, a 41% increase over the same period last year.Plans to split into an independent company within this year, and then listed in the United States.
Regarding the US Congress's formal approval of the CHIPS chip subsidy bill, which is expected to allocate $520 billion in funds and tax subsidies to help companies increase chip production capacity within the United States, thereby alleviating the impact of the global chip shortage and strengthening the US's competitive advantage over China, Pat Gelisinger expressed his pleasure at the passage of this bill, which is expected to enable the United States to gain a leading position in semiconductor manufacturing and research and development. He also emphasized that Intel is currently investing in factory expansions in Ohio, Arizona, and New Mexico, which is expected to generate $435 billion in output value over the next three years.
