Intel’s PC Revenue Falls 5% as AMD’s Chiplet Design Draws Attention

Intel’s third-quarter results showed a widening split between its PC and data center businesses, prompting Citrini researcher Zephyr to argue that AMD’s chiplet design may be better suited to changing demand.

Intel’s client computing business generated $8.1 billion in revenue, down 5% from a year earlier. Data Center and AI revenue climbed 78% to $7.3 billion, and total revenue rose 21% to $16.5 billion.

Intel forecast fourth-quarter revenue of $15 billion to $16 billion and adjusted earnings per share of 25 cents. The revenue range is below the third-quarter total and follows the pressure captured in the company’s fourth-quarter outlook.

Zephyr’s argument points to Intel’s greater exposure to consumer PCs and AMD’s potential flexibility as demand shifts among PCs, servers and AI. Chiplet designs combine smaller dies, which can improve yields and cost economics when advanced manufacturing capacity is expensive or constrained. Different components can also use different process nodes.

Intel CEO Lip-Bu Tan projected that the global PC market would contract 12% in 2026 and 10% in 2027. The projection frames the PC weakness behind Intel’s results as part of a broader market downturn.