本报讯 （记者贾丽）2026年1月23日，英特尔发布了2025年第四季度及全年财报。其中，英特尔在2025年全年营收为529亿 美元，与上年持平。2025年第四季度营收137亿美元，数据中心与AI业务营收同比增长9%。 英特尔首席执行官陈立武表示："公司对CPU在AI时代不可或缺的作用信心坚定。我们以稳健的表现为这一年画上了坚实 的句号，并在打造新英特尔的征程上取得进展。我们成功推出首批基于Intel18A制程——迄今为止英特尔最先进的半导体制程 工艺的产品——这标志着一个重要里程碑。我们正积极扩大供应，以满足强劲的客户需求。我们的重点十分明确，强化执行 力，重振工程卓越性，并充分把握AI为我们所有业务带来的巨大机遇。" 2025年以来，英特尔动作频频。具体来看，2025年第一季度，英特尔实施了组织架构调整，将网络与边缘事业部（NEX） 整合至客户端计算事业部（CCG）和数据中心与人工智能事业部（DCAI）。另外，在产品上，英特尔发布了第三代英特尔® 酷睿™Ultra处理器系列，这是首款基于Intel18A制程节点打造的AIPC计算平台。该产品将为全球领先的OEM厂商的200多款产 品设计提供强劲算力，覆盖从 ...

这份"前喜后忧"的财报反差，直接引发市场恐慌。 23日盘前，公司股价已跌超13%，公司市值跌至2712亿美元。 这场暴跌的背后，芯片制造良率不足是最核心的症结。 英特尔发布了第四季度财报及今年第一季度业绩指引。 财报分化态势鲜明：第四季度业绩超出市场预期，但对今年第一季度业绩展望却十分保守。 Q4业绩全面超预期 财报显示，英特尔2025财季Q4营收为137亿美元，同比下降4%，超出预期的134亿美元。 净利润8亿美元，同比增长35%。经调整后的每股收益为15美分，同比增长15.3%，超过预期的8美分。 调整后毛利率37.9%，预期为36.5%，超1.4个百分点。 | | GAAP | | | | Non-GAAP | | | --- | --- | --- | --- | --- | --- | --- | | | Q4 2025 | Q4 2024 | vs. Q4 2024 | Q4 2025 | Q4 2024 | vs. Q4 2024 | | Revenue ($B) | $13.7 | $14.3 | down 4% | | | | | Gross margin | 36.1% | 39 2% | ...

1月23日，美股芯片股盘前集体下跌，英特尔大跌近14%，报46.74美元/股。 消息面上， 1月23日，英特尔公布截至2025年12月27日的第四季度营收为137亿美元，同比下降约4%，按通用会计准则（GAAP）计算，公司第四季 度净亏损约6亿美元，合每股亏损0.12美元。 | | | | 此外，阿斯麦跌近3%，美光科技、西部数据跌超1%，英伟达、高通、超威半导体均下跌。 | | --- | 西部数据(WESTERN DIGITAL) ( 白 WDC.O 243.290 量 892.7万 股本 3.42亿 市盈™ 32.3 万得 盘口 1.390 > + 美东 04:50 ∨ 盘前 239.000 -4.290 -1.76% 美光科技(MICRON TECHNOLOG ( 白 MU.O 397.580 量 3%0.8万 股本 11.26亿 市盈™ 37.6 万得 盘口 8.470 2.18% - 换 3.52% 市值 4475亿 市净" 7.61 > 盘前 391.490 -6.090 -1.53% | -- 美东 04:49 √ 英伟达(NVIDIA) ( 日 NVDA.O 184.840 量 1.4亿 股 ...

Market Overview - Major U.S. stock index futures are showing slight declines, with Dow futures down 0.07%, S&P 500 futures down 0.05%, and Nasdaq futures down 0.16% [1] Semiconductor Sector - Storage chip stocks are experiencing a pre-market decline, with Western Digital down 1.54%, Micron Technology down 1.02%, and Seagate Technology down 1.02% [1] Biotechnology Sector - Moderna's CEO announced the company will not invest in new late-stage vaccine trials due to increasing opposition from U.S. officials regarding vaccination, leading to a 4.09% drop in Moderna's stock [1] Automotive Sector - Tesla's CEO Elon Musk indicated that the Full Self-Driving (FSD) system may receive approval in China as early as next month, although Tesla China stated there is no new information to provide, resulting in a slight increase of 0.19% in Tesla's stock [1] Media and Entertainment Sector - Netflix's co-CEO expressed optimism that the proposal to acquire Warner Bros. studios will gain shareholder support, while criticizing Paramount's bid as unviable, leading to a 0.18% increase in Netflix's stock [2] E-commerce Sector - Amazon is reportedly planning a second round of layoffs, similar in scale to the previous cut of approximately 14,000 white-collar jobs, with stock rising 0.38% [2] Technology Sector - Intel's Q4 revenue was reported at $13.67 billion, a 4.1% year-over-year decline, with a weak Q1 guidance leading to a 13.38% drop in its stock. The company attributed the guidance to supply shortages caused by manufacturing yield issues [3] Cloud Computing Sector - Amazon Web Services (AWS) has raised the prices of its machine learning capacity blocks by approximately 15%, breaking a long-standing trend of price reductions [4] Legal Issues - Former President Trump has filed a lawsuit against JPMorgan Chase seeking at least $5 billion in damages, alleging the bank closed his accounts for political reasons, which could impact the bank's reputation and operations [4]

英特尔周四发布财报显示，公司四季度由盈转亏，同时预计一季度将继续亏损。当前英特尔正大手笔投 入以扩大最新芯片的产能，同时还在应对库存短缺问题。 财报发布后，英特尔盘后股价跌幅超12%。 投资者此前一直热切期待英特尔芯片制造代工业务迎来新客户的消息，但公司高管在分析师电话会议中 表示，新客户相关公告要到今年晚些时候才会公布。 英特尔首席执行官在电话会议中表示，"未能充分满足市场需求，我对此感到失望。我们正踏上一场为 期数年的征程，这需要时间与决心。" 责任编辑：何云 英特尔周四发布财报显示，公司四季度由盈转亏，同时预计一季度将继续亏损。当前英特尔正大手笔投 入以扩大最新芯片的产能，同时还在应对库存短缺问题。 财报发布后，英特尔盘后股价跌幅超12%。 据相关数据显示，该公司去年四季度净亏损3.33亿美元，逊于分析师预期的2.94亿美元亏损额。 同期营收为137亿美元，较去年同期的143亿美元有所下滑。 据相关数据显示，该公司去年四季度净亏损3.33亿美元，逊于分析师预期的2.94亿美元亏损额。 同期营收为137亿美元，较去年同期的143亿美元有所下滑。 投资者此前一直热切期待英特尔芯片制造代工业务迎来新客户的消息 ...

英特尔(INTC.US)盘前大跌近13%，报47.29美元。消息面上，英特尔公布2025年第四季度业绩，营收同 比下降4.1%至137亿美元，略高于分析师平均预期的134亿美元；录得净亏损6亿美元，较去年同期的净 亏损1亿美元扩大；调整后每股收益为0.15美元，高于分析师预期的0.09美元。 展望第一季度，英特尔预计营收将在117亿至127亿美元之间，区间中值低于分析师预期的126亿美元； 调整后每股收益指引为0，亦低于分析师预期的0.08美元；调整后毛利率指引为34.5%，而分析师预期为 36.5%。英特尔将一季度指引疲软主要归咎于制造良率问题导致的供应短缺。公司CEO陈立武表示，公 司正在努力解决制造问题，但在四季度用尽了大部分库存。(格隆汇) ...

每经AI快讯，1月23日，美股盘前，英特尔跌约12%。 ...

Group 1: Gold Market - Goldman Sachs raised its gold price target for 2026 from $4,900 to $5,400 per ounce, driven by private investors diversifying their portfolios to hedge against global policy risks [1] - Gold prices recently reached a historical high, surpassing $4,900 per ounce, with a year-to-date increase of over 14% [1] Group 2: Semiconductor Industry - A surge in demand from large cloud service providers has led Intel and AMD to sell out their server CPU capacity for 2026, prompting a planned price increase of 10-15% for server CPUs [1] - The semiconductor sector is viewed as a significant investment opportunity, particularly in the context of AI-driven innovations in computing architecture [1] Group 3: ByteDance and AI in Animation - ByteDance's animation sector has reached a peak daily expenditure of 30 million, with the overall market expected to grow to 22 billion yuan by 2026 [2] - AI integration in animation production is significant, with cost reductions of over 70% and efficiency improvements of over 80% [2] Group 4: Xiaomi's Share Buyback - Xiaomi announced a share buyback plan of up to 2.5 billion HKD, coinciding with a decline in its stock price, which has dropped 42.65% from its peak [3] - The buyback is seen as a response to the company's recent stock performance and rising industry storage costs [3] Group 5: Robotics Industry - Yushun Technology clarified that its humanoid robot shipments exceeded 5,500 units in 2025, with production volume surpassing 6,500 units [3] - The company is preparing for an IPO in the domestic market after completing its IPO guidance work [3] Group 6: Fund Management and Market Trends - Public funds increased their holdings in non-ferrous metals, chemical, and non-bank financial sectors during the fourth quarter of 2025, despite a generally volatile A-share market [5] - The total net asset value of public funds exceeded 37.64 trillion yuan by the end of 2025, marking a historical high [5] Group 7: IPO Developments - Qinheng Micro's IPO application for the Sci-Tech Innovation Board was terminated, marking the second IPO termination in 2026 [9] - Alibaba is reportedly planning to spin off its AI chip division, Pingtouge, for an independent IPO, reflecting a trend of domestic AI chip companies moving towards public offerings [11]

Core Insights - Intel has shown significant improvement in its financial performance for Q4 of FY2025, with revenue reaching $13.7 billion and Non-GAAP EPS at $0.15, exceeding expectations [1] - The recovery is primarily driven by a strong rebound in the Data Center and AI (DCAI) business, which saw a 15% quarter-over-quarter growth, marking the fastest growth in nearly a decade [1] - The partnership between Intel and Lenovo is deepening, particularly in the Client Computing Group (CCG) sector, with the early shipment of the Core Ultra Series 3 processors, which supports Lenovo's high-end AI PC strategy [2][3] Financial Performance - Intel's Q4 FY2025 revenue reached $13.7 billion, hitting the upper limit of guidance, with a Non-GAAP EPS of $0.15, significantly above the expected $0.08 [1] - The gross margin improved to 37.9%, exceeding guidance by 140 basis points, marking the fifth consecutive quarter of performance exceeding expectations [1] Strategic Developments - The Core Ultra Series 3 processors, based on the advanced 18A process node, have been shipped ahead of schedule, providing a boost to Lenovo's AI PC strategy [2] - The Aura Edition product line, featuring the latest Core Ultra processors, is set to drive over 200 laptop designs, making it one of Intel's most widely adopted AI PC platforms [3] Market Positioning - Intel and Lenovo are focusing on the private cloud and edge AI markets, which are seen as underappreciated growth areas for Intel and a core competitive advantage for Lenovo [7][8] - The collaboration aims to provide cost-effective AI solutions for businesses, avoiding the high-end GPU market dominated by competitors like NVIDIA [7][8] Future Outlook - The partnership is expected to strengthen as Intel resolves capacity constraints and improves supply conditions in Q2 2026, positioning Lenovo to capitalize on the upcoming enterprise upgrade cycle [3] - The alliance is redefining the Wintel partnership, with a focus on local processing of AI applications to enhance privacy and reduce latency, potentially leading to a structural turnaround for Intel's performance [10][11]

记者注意到，过去一年，英特尔发布了第三代英特尔酷睿Ultra处理器系列，这是首款基于Intel18A制程 节点打造的AI PC计算平台。该产品将为全球领先的OEM厂商的200多款产品设计提供强劲算力，覆盖 从高端到主流的笔记本电脑、游戏掌机、机器人及工业边缘设备，并有望成为英特尔有史以来应用最广 泛、覆盖范围最广的AI PC平台。 此外，英特尔与思科宣布，合作开发面向分布式AI工作负载的集成平台。基于英特尔至强6系统级芯片 (SoC)，思科Unified Edge平台将计算、网络、存储和安全功能部署至数据产生的源头，支持边缘侧的实 时AI推理与智能体工作负载。同时，英特尔将其数据中心与AI业务整合至数据中心事业部执行副总裁 兼总经理Kevork Kechichian的管辖下，以确保CPU、GPU及平台战略间的紧密协同。 值得一提的是，Intel18A制程已在亚利桑那州和俄勒冈州实现大规模量产，进一步巩固了英特尔同时致 力于尖端及下一代半导体制造技术的研发和设计，并采用先进制程节点进行逻辑芯片大规模制造的独特 优势。英特尔代工与ASML共同验证了先进光刻机的技术可行性，该设备能提供更高的精度与生产效 率，为未来 ...