Intel's AI PCs Are Killing Profits

Ramping Meteor Lake has been costly, and Lunar Lake will be a drag on profits next year.Intel (INTC -26.06%) reported a net loss of $1.6 billion in the second quarter, a swing of more than $3 billion year over year in the wrong direction. The company's adjusted gross margin was 38.7%, down from the same quarter last year and a mile away from its long-term target of 60%.There are a lot of moving parts contributing to Intel's plunging bottom line, but a major component is the company's aggressive push to lead ...