Intel beat it’s revenue and earnings projections for Q4, but posted weak guidance for Q1 2024, resulting in a 12% share price drop after hours.

Intel was able to increase their client computing (PCs and laptops) revenue and profit, but they suffered losses in data center and AI (DCAI) and network and edge computing.

The weak guidance for Q1 reflects that corporate customers (and investors) are looking for GPU AI accelerators, and Intel doesn’t currently have any to offer.

earnings slide deck