新浪科技讯 1月23日下午消息，英特尔公司发布2025年第四季度及全年财报，宣布第四季度营收137亿 美元，同比下降4%；全年营收529亿美元，与去年持平。上述同比数据尚未针对2025年第三季度剥离 Altera业务进行调整。 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Intel 18A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。" 预计2026年第一季度营收为117亿美元至127亿美元；预计第一季度英特尔每股收益为-0.21美元。 2025年，英特尔发布了第三代英特尔® 酷睿™ Ultra处理器系列，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。此外， Intel 18A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 ...

IT之家 1 月 23 日消息，在英特尔 2025 年第四季度财报电话会上，英特尔 CEO 陈立武表示，尽管 AI 时 代带来了前所未有的半导体需求，但短期内，"我对未能完全满足市场需求感到遗憾"。他表示，当前英 特尔产品良率虽符合英特尔的内部计划，但仍未达到自己期望的水平。"2026 年，加快良率提升将是我 们的重要工作重点，以更好地支持客户需求。" 陈立武透露，英特尔在第四季度已消耗了大量库存。"我们的良率与生产制造表现未达我的标准，必须 改善。" 英特尔 CFO 大卫 · 津斯纳则表示，尽管面临全行业供应短缺的挑战，公司第四季度的营收、毛利率和 每股收益方面仍然超出预期。公司预计，可用供应量将在（2026 年）第一季度降至最低水平，随后从 第二季度起逐步改善。随着 AI 的快速普及，x86 生态系统作为全球广泛部署的高性能计算架构的重要 性日益凸显，核心市场的基本面需求依然稳健。 英特尔预计第一季度营收区间为 117 亿美元至 127 亿美元（IT之家注：现汇率约合 816.65 亿元至 886.45 亿元人民币），反映出一个相对疲软的季节性季度。同时，公司预计第一季度经调整后每股收益 将接近盈亏平衡， ...

摩根大通将英特尔目标价从30美元上调至35美元。 ...

1 月 23 日，在市场对业绩抱有较高预期的背景下，英特尔公布的 2025 财年第四季度业绩略高于分析师 预测，但公司同时警告，其自身产能限制正成为短期增长的主要约束因素。 据 Investing.com 与路透社披露的财报电话会议记录，英特尔目前难以完全满足 AI 数据中心对服务器处 理器的强劲需求。英特尔 CDO 大卫 · 津斯纳（David Zinsner）表示，公司内部供应瓶颈在 2026 财年第 一季度尤为突出。 英特尔预计第一季度营收区间为 117 亿美元至 127 亿美元，反映出一个相对疲软的季节性季度。同时， 公司预计第一季度经调整后每股收益将接近盈亏平衡，而分析师此前预计为 0.05 美元。 库存回落与内存短缺影响前景 津斯纳在会议上表示，2025 年下半年，英特尔通过额外的晶圆产出和动用库存来满足强劲的产品需 求。但进入 2026 年，这一库存缓冲已被消耗殆尽。 此外，自 2025 年第三季度起向服务器晶圆的产能切换，预计要到第一季度末才能完全体现在成品交付 中，这也是公司在本季度给出相对保守指引的重要原因之一。 津斯纳还表示，英特尔代工业务在 2025 年第四季度实现营收 45 亿美元， ...

Core Insights - Intel's Q4 performance exceeded expectations, but weak Q1 guidance led to a significant stock drop, with CEO expressing disappointment over unmet market demand [1][6][8] - Despite strong AI demand, Intel faces severe supply bottlenecks, with depleted buffer inventory and manufacturing yields not meeting internal standards [1][3][8] Financial Performance - Q4 revenue reached $13.7 billion, with a non-GAAP gross margin of 37.9% and non-GAAP EPS of $0.15; Q1 revenue guidance is set at $11.7 to $12.7 billion, with a midpoint of $12.2 billion [16][34][41] - DCAI (Data Center and AI) revenue grew 15% quarter-over-quarter, but supply constraints prevented capturing higher potential revenue [4][12][38] Supply Chain and Inventory Issues - The company acknowledged that buffer inventory has been exhausted, leading to a "hand to mouth" operational state, particularly in Q1 [8][9][12] - Manufacturing yield improvements of 7%-8% per month are ongoing, but still below industry-leading levels, with a focus on optimizing yields by 2026 [3][9][19] Strategic Focus and Business Development - Intel is prioritizing high-margin data center business over client computing, with DCAI revenue showing the fastest growth in a decade [12][38] - The company is committed to enhancing its foundry business, with expectations for customer orders for the 14A process to materialize in late 2026 or early 2027 [14][15][40] AI and CPU Role - Management emphasized the underestimated role of CPUs in the AI era, highlighting their critical function in workload orchestration and control [11][12][29] - The shift towards "mixed AI" architectures necessitates robust CPU capabilities, driving demand for traditional server upgrades [11][12][29] Capital Expenditure and Future Outlook - Capital expenditures for 2026 are expected to remain flat or slightly decrease, with a shift towards spending on manufacturing tools rather than facility construction [15][44] - The company anticipates gradual supply improvements starting in Q2 2026, with a focus on meeting the strong demand in the data center and AI sectors [22][42]

本文源自：金融界AI电报 英特尔首席财务官David Zinsner表示："尽管面临全行业供应短缺的挑战，公司第四季度的营收、毛利 率和每股收益方面均超出预期。公司预计，可用供应量将在第一季度降至最低水平，随后从第二季度起 逐步改善。随着AI的快速普及，x86生态系统作为全球广泛部署的高性能计算架构的重要性日益凸显， 核心市场的基本面需求依然稳健。" ...

Core Viewpoint - Intel's CEO expressed regret over the company's inability to fully meet market demand for semiconductors despite unprecedented demand driven by the AI era [1] Group 1: Company Performance - Intel's product yield is currently in line with internal plans but has not reached the CEO's expectations [1] - The company aims to accelerate yield improvement as a key focus in 2026 to better support customer demand [1]

英特尔盘后大跌超11%，报54.32美元。 消息面上，英特尔披露第四季度业绩，营收136.7亿美元，同比减少4.1%，高于市场预估的134.3亿美 元；第四季度调整后每股收益0.15美元，上年同期0.13美元，高于预估的0.09美元。 不过，公司对第一季度的业绩指引却显著低于华尔街预期。英特尔预计，一季度调整后每股收益0美 元，市场预估0.08美元；预计第一季度营收117亿美元至127亿美元，市场预估125.6亿美元。 英特尔高管坦言，公司当前正遭遇库存短缺困境，要满足市场对其芯片的强劲需求，尚需一定时 间。"短期内，我对我们无法完全满足市场需求感到失望。" 陈立武表示，强调公司正处于一场需要时 间积淀的长期发展征程中。 首席财务官David Zinsner补充道，得益于人工智能基础设施建设带来的强劲需求，公司关键产品供应已 出现限制，"DRAM、NAND 以及基板等核心部件的供应压力，正呈现全行业性的加剧态势。" 美股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 英特尔首席执行官陈立武对此给出平淡预期，并警示公司正面临生产环节的相关问题。 ...

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 国家知识产权局信息显示，英特尔公司取得一项名为"与计算或电子部件封装相关联的表面结构方法和 设备"的专利，授权公告号CN108695282B，申请日期为2018年3月。 作者：情报员 ...

Core Viewpoint - Intel reported its Q4 and annual financial results for the year ending December 27, 2025, showing a mixed performance with a revenue decline but strong growth in its Data Center and AI (DCAI) segment, which exceeded market expectations [2][4]. Financial Performance - In Q4 2025, Intel achieved revenue of $13.67 billion, a year-over-year decrease of 4.1%, but above Wall Street's expectation of $13.43 billion [2]. - The DCAI segment generated $4.74 billion in revenue for the quarter, a 9% increase year-over-year, surpassing the market forecast of $4.42 billion [2]. - The company reported a net loss of $333 million for the quarter, which was higher than the previous year's loss and above the market expectation of $294 million [2]. - For the full year, Intel's revenue was $52.85 billion, roughly flat year-over-year, with DCAI revenue up 5% to $16.9 billion, while Client Computing Group (CCG) revenue fell 3% to $32.2 billion [2]. - The net loss for the year was $267 million, a significant reduction from the $18.76 billion loss in 2024 [2]. Market Outlook - Intel's Q1 2026 revenue guidance is projected between $11.7 billion and $12.7 billion, which is more conservative compared to the market estimate of $12.56 billion [4]. - The CFO indicated that supply shortages are a concern, affecting the ability to meet seasonal demand, with finished goods inventory down to about 40% of peak levels [4]. - Despite the challenges, the CEO emphasized the critical role of CPUs in the AI era and the company's commitment to resolving production issues [5]. Strategic Initiatives - Intel is re-establishing its position in the global chip market, with the introduction of its 18A process technology and new platforms like Panther Lake aimed at AI PC and edge scenarios [6]. - The company has gained increased market attention due to investments from major players like the U.S. government, Nvidia, and SoftBank, as well as its focus on data center CPU and GPU AI business [7]. - Analysts have noted a significant increase in CPU sales and improvements in the 18A process, positioning Intel to potentially surpass Samsung as the second-largest foundry supplier [7]. Production Challenges - Despite positive market sentiment, Intel's production performance may limit its growth prospects, with the CEO acknowledging that production levels have not yet met internal standards [8]. - The company is focusing on enhancing execution and engineering excellence while leveraging AI opportunities across its business [8]. - Concerns remain regarding the ability to attract external customers for its foundry business, with the 14A process expected to begin production in 2027 [9].