EP 150: Intel Earnings, Some Intel Growth Theories, X86 v. Arm in Datacenter

The Circuit podcast analyzes Intel's recent earnings, highlighting a good Q4 performance overshadowed by disappointing guidance due to supply constraints. Ben and Jay debate whether Intel is being too cautious with CapEx spending given the significant opportunity in the foundry business. Jay defends Intel's measured approach, emphasizing the need for financial discipline and focusing on securing firm customer orders before expanding capacity. They explore the increasing demand for CPUs, particularly ARM-based, driven by AI and hyperscaler needs, with NVIDIA potentially capturing a significant share of the server CPU market. The conversation also touches on the challenges of wafer yields and advanced packaging, as well as the potential for edge AI to impact the client PC market.