Intel reported Q2 2024 revenue of $12.8 billion, down 1% year-over-year, with a net loss of $1.6 billion compared to a $1.5 billion profit in Q2 2023. Client Computing Group revenue rose 9% to $7.4 billion on improved notebook and desktop volumes, while Data Center and AI revenue fell 3% to $3.0 billion amid competitive pressures. Gross margin declined slightly to 35.4% from 35.8% last year.The company recorded significant charges including $943 million in restructuring costs and a $780 million charge related to R2 litigation. Operating expenses increased 2% to $5.6 billion as Intel continued investments in process technology development. The quarter saw major strategic moves including an $11 billion investment from Apollo Global Management for a 49% stake in Intel's Irish fab operations.Looking ahead, Intel announced suspension of its quarterly dividend starting Q4 2024 to prioritize investments in technology and manufacturing leadership. The company achieved a key milestone with Intel 18A PDK 1.0 release to foundry customers and plans to implement cost reduction measures including headcount reductions to enable operational efficiency while sustaining strategic investments.

Intel reported Q2 2024 revenue of $12.8 billion, down 1% year-over-year, with a net loss of $1.6 billion compared to a $1.5 billion profit in Q2 2023. Client Computing Group revenue rose 9% to $7.4 billion on improved notebook and desktop volumes, while Data Center and AI revenue fell 3% to $3.0 billion amid competitive pressures. Gross margin declined slightly to 35.4% from 35.8% last year.The company recorded significant charges including $943 million in restructuring costs and a $780 million charge related to R2 litigation. Operating expenses increased 2% to $5.6 billion as Intel continued investments in process technology development. The quarter saw major strategic moves including an $11 billion investment from Apollo Global Management for a 49% stake in Intel's Irish fab operations.Looking ahead, Intel announced suspension of its quarterly dividend starting Q4 2024 to prioritize investments in technology and manufacturing leadership. The company achieved a key milestone with Intel 18A PDK 1.0 release to foundry customers and plans to implement cost reduction measures including headcount reductions to enable operational efficiency while sustaining strategic investments.