What caused Intel's gross profit decline in Q3 2024?

Intel's gross profit declined in Q3 2024 due to a combination of factors:

1. **Increased Costs**: The accelerated ramp-up of AI PC products and the need to realign its foundry business contributed significantly to the increased costs. These costs were further exacerbated by charges related to non-core businesses and unused capacity, which impacted gross margins.
2. **Soft Demand Trends and Export Restrictions**: Soft demand trends and stiff export restrictions hindered top-line growth, leading to a decline in gross profit. Despite solid traction from its IDM 2.0 strategy, these challenges adversely affected margins.
3. **Unfavorable Product Mix and Competitive Pricing**: The company faced challenges from an unfavorable product mix and competitive pricing by rivals, which also impacted gross margins.

In summary, Intel's gross profit decline in Q3 2024 was primarily caused by increased costs, soft demand trends and export restrictions, and an unfavorable product mix, which together resulted in a reduction of gross margin.