Intel posts record $16B growth, workers rewarded with job cuts

Chipmaker Intel reported this week that quarterly revenue had risen at its quickest pace in more than 15 years — just days after it confirmed a fresh round of layoffs.

Revenue rose to $16.1 billion, up 25% year over year, while revenue from its Data Center and AI segment skyrocketed 59% to $6.3 billion.

However, that same data center segment is slashing headcount per Tuesday‘s announcement. Record data center growth led to job cuts.

Chief Financial Officer Dave Zinsner gushed about yesterday‘s numbers, saying, “AI-driven compute continues to strengthen, and to support expected growth this year and next across products and foundry, we are meaningfully increasing our investments in equipment, clean room space, and substrates.”

Intel’s adjusted results yesterday exclude restructuring and related charges.

Those were, per its Q2 reconciliation, a relatively modest $170 million in restructuring. Yet for the full year, its outlook estimates a staggering $4.3 billion in restructuring and other charges.

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