Intel set for big drop in quarterly revenue as chipmaker struggles to bounce back

Intel is expected to report its biggest quarterly revenue drop in five quarters on Thursday, potentially signaling more erosion of data center and personal computer market share for the once iconic American chipmaker. Shareholders have turned their focus to CEO Pat Gelsinger's attempts to salvage the company's lost market lead as losses mount at its contract manufacturing business, while Intel fails to capitalize on the generative AI-driven chip boom, after a series of missteps including passing on an investment in OpenAI. With Wall Street expecting Intel to report an 8% decline in revenue to $13.02 billion, according to data from LSEG compiled as of Oct. 26, investors want Gelsinger to provide clarity on his plans to get the company's latest manufacturing technology up and running.