From Tom's Hardware: Having experienced two consecutive quarterly losses, Intel bounced back to profitability in the second quarter and is looking positively toward the second half of the year. Intel CEO Pat Gelsinger expressed optimism about the company's future in a conversation with Yahoo Finance Live, stating that the worst is likely over for the PC market, and the upward revision of the Q3 guide indicates a brighter future. Meanwhile, Gelsinger expects the upcoming Meteor Lake CPU family to be Intel's new 'Centrino Moment.'
"I do think we have […] seen the worst," Gelsinger said. "Obviously, the PC inventory levels are now healthy again. And we are seeing the demand signals. You know, we think we still have a little bit of inventory on the networking and the datacenter to fight through in the third quarter of the year. But I really think the worst is behind us at this point."
The head of Intel attributed his positive outlook to expected improvements in the PC business, noting that Intel's inventory levels are now healthy, which is why the chip giant now expects quarter-on-quarter improvements due to inventory level adjustments.
Gelsinger also highlighted the upcoming introduction of Intel's codenamed Meteor Lake processor, the company's first client CPU to use a multi-chiplet design and a built-in AI accelerator to boost applications like real-time language translation, transcription, and video effects, among other things.
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