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

Intel shares fell 29.9% to $64.54 after the company forecast fourth-quarter revenue of $15 billion to $16 billion, below the $17.07 billion analyst consensus, and said it does not expect positive cash flow this year. PC chip sales are expected to decline more than 20% sequentially in the current quarter after falling 5% in the September quarter. Intel was on track to lose more than $123 billion in market value as weak PC demand and high AI investment costs triggered a broader semiconductor selloff.