Intel Shares Crash, Cutting $12B From Government Stake
Intel's stock fell sharply, wiping about $12 billion off the value of the government's stake in the chipmaker. The company is being hurt by falling PC sales, as the AI boom uses up memory and other parts and pushes up computer prices.
Quick glossaryIntel, Memory chips
- Intel
- A US chipmaker best known for the processors that power many laptops and desktop computers.
- Memory chips
- Chips that hold data temporarily so computers and servers can access information quickly while they work on tasks.
Burning Potato score: 65%