Stephanie Flanders

But Ed, it's all about the chip stocks today and you're digging into them.

So Intel is down a lot, and it's because of a sales outlook for the current period that at the midpoint was below investor expectations, on track for its biggest drop since August of 2022.

But remember, this was a stock that just in the few weeks we've had of 2026 was up 47% as of yesterday's close.

The problems are in supply, but specifically in execution.

Let's get to Bloomberg's Chips Reporter.

ian king and ian you and i spoke with intel's ceo lip bhutan on the telephone he was very clear that actually when they say there are supply issues a lot of this was how intel tried to manage it they have yield and they have production problems explain that to us yeah so there's a couple of things here the first was that they basically

What does it say about the future of its fab business, Ian, if yield is so low?

Intel, Intel, Ian, we also discussed in the context of Intel, his efforts with the coming 14A process, right?

And I found LitBootan's candor quite interesting.

We tried to push him and say, where are the customers?

And his answer was, until I have a volume commitment on that, I'm not going to tell you anything.

Just give us a bit more of how he tried to explain that foundry business and its progress.

Wonder how the administration is viewing it as a key stakeholder in Intel.

Ian King, great roundup.

Thank you.

Let's turn our attention to a Bloomberg exclusive now.

Alibaba, Tencent, ByteDance.

Well, they're now allowed to prepare orders for NVIDIA's H200 AI chips, suggesting that Beijing is prioritizing the needs of the major Chinese hyperscalers and getting close to formally approving imports of essential AI components.

Let's get to Bloomberg Tech Executive Editor Peter Elstrom.

It's another stepping stone that hints...