Data Center and AI (DCAI) revenue increased $298 million YoY, driven by higher edge processing unit demand and higher server revenue. This shows some success in strategic diversification.

Intel signed an agreement to sell 51% of Altera, expecting $4.4B in net cash proceeds. This divestiture will alter the company's revenue mix and strategic focus.

Incentives offered to certain customers to accelerate purchases and to strategically position our products with customers for market segment share purposes, particularly in CCG, contributed approximately $1.6 billion to our revenue during Q1 2024. These incentives were insignificant in Q1 2025.

The 2024 Restructuring Plan is underway, aiming to reduce costs. An amendment is expected in Q2 2025 for further actions, suggesting ongoing efforts to improve efficiency.

Operating expenses decreased due to lower payroll-related expenditures resulting from headcount reductions under the 2024 Restructuring Plan. This demonstrates management's commitment to cost control.

Intel has accrued approximately $1.0 billion related to the VLSI litigation, impacting profitability. This highlights the challenges in managing legal risks.

The 10-Q highlights the material adverse impact of geopolitical tensions, volatility, and uncertainty related to international trade policies, including tariffs and export controls, on Intel's business.

The company's reliance on a global supply chain with components and raw materials, including rare earth minerals, creates vulnerability to disruptions and increased costs.

The document notes that recent US government actions create uncertainty regarding the timing of the US government fulfilling its obligations under CHIPS Act agreements.

Client revenue (collectively notebook and desktop) was $6.5 billion in Q1 2025, down $599 million from Q1 2024, primarily due to lower Q1 2025 client volume resulting from incremental customer incentives offered to certain customers in Q1 2024.

We have been and may continue to be disadvantaged in or lose access to such international markets as a result of tariffs, export controls, or other trade policies, and the mitigation measures we have taken or may take in the future, including potential re-balancing of our manufacturing between regions, may not be effective or able to be effectuated in a timely manner, or at all.

To the extent our customers, including multinational companies, assemble computer products in China and other foreign markets and sell them into the US end market, the imposition of tariffs in the US could adversely affect demand for their computer products, which could in turn adversely affect demand for our semiconductors.

R&D and MG&A expenses decreased due to lower payroll-related expenditures resulting from headcount reductions taken under the 2024 Restructuring Plan, as well as the effects of various other cost-reduction measures and lower share-based compensation.

We are strengthening the resilience of the global semiconductor supply chain for leading-edge and mature node semiconductor products by investing in geographically balanced and more sustainable manufacturing capacity.

Further, our supply chain depends on globally sourced components and raw materials, including various rare earth minerals, that may become difficult or more costly to obtain, which may impair our ability to manufacture our products and increase our costs.

DCAI cost of sales increased $614 million from Q1 2024, primarily driven by higher period charges as a result of Gaudi Al accelerator inventory reserves taken in Q1 2025.

In support of our strategy, described in our 2024 Form 10-K, we continue to make significant investments to accelerate our process technology roadmap.

As a result of our 2024 Restructuring Plan and related cost-reduction measures, we expect a decrease in total R&D and MG&A expenses in 2025 relative to recent historical periods as we focus investments in R&D and create capacity for sustained investment in technology and manufacturing.

No shares were repurchased during the quarter ending March 29, 2025, though $7.2 billion remains available under the authorization. This suggests a cautious approach to capital return.

Our long-term funding requirements incrementally contemplate investments in significant manufacturing expansion plans and investments to accelerate our process technology. These plans include expanding existing operations in Arizona, New Mexico, and Oregon, and investing in a new leading-edge manufacturing facility in Ohio.

We expect to continue to benefit from government incentives, though recent US government actions create uncertainty regarding timing of the US government fulfilling its obligation under our CHIPS Act agreements, and supporting future awards in the US.

There was no mention of ESG initiatives in the filing.

The document notes that risks related to changes in international trade policies, including tariffs and export controls, particularly those involving the United States and China are described under 'Risk Factors.'

In recent months, markets, businesses and consumers have reacted adversely to geopolitical tensions, volatility and uncertainty in international trade policies.

Further, our supply chain depends on globally sourced components and raw materials, including various rare earth minerals, that may become difficult or more costly to obtain, which may impair our ability to manufacture our products and increase our costs.