Intel 3Q25- Revenue up 6% q/q and 3% y/y to $13.7B at 40% GM (above guidance)- 4Q guidance: $12.8-$13.8B at 36.5% GM (ex-Altera flat q/q)- Tight supply of older processes (Intel 7/10); will continue into 2026; substrate shortages- Peak of shortages in 1Q26- Intel Foundry revenue was $4.2 billion, down 4% q/q- While Intel maintains 100M AI PC forecast, the demand for older gen products means AI PC is not widely adopted yetSource: Sravan Kundojjala