Intel stock plunges 30% as weak PC demand and AI costs trigger global chip selloff

Intel shares tumbled 30% on Friday after the chipmaker issued a weaker than expected revenue outlook and warned that it would not generate positive cash flow this year. The warning added to concerns over slowing PC demand and the mounting costs of expanding artificial intelligence infrastructure, triggering a broader selloff across semiconductor stocks, Reuters reported.

Intel stock was trading at $64.54, down 29.9%, after having fallen to a low of $64.11 earlier in the day.