Intel Shares Slide as Costs Pile Up in Bid to Meet AI Demand

Intel’s INTC -17.03%decrease; red down pointing triangle latest earnings report made clear that the chip-making company’s turnaround is still a work in progress. The stock—which has more than doubled in value over the past six months—closed down 17% on Friday.

The company lost money in the fourth quarter and is forecasting more losses in the first quarter of this year, as it spends heavily to ramp up production of its latest chips while contending with an inventory shortage.