Why Intel (INTC) fell 2.85% on August 3, 2026

Intel (INTC) fell 2.85% on August 3, 2026 — Q2 AI revenue miss, $20B capex concern.

Intel fell 2.9% premarket as traders digested Q2 AI revenue results and the company's ambitious $20 billion capex plan.

Heavy capex spending raises cash burn questions if AI revenue traction lags; the market is repricing Intel's risk/reward, fearing the company may be betting too hard on an uncertain AI revenue ramp.

Intel anchors the Chip Supply Chain theme — but unlike pure-play foundries or design wins that are riding easy tailwinds, Intel is burning capital to regain competitive footing; that execution risk is materializing.

If Intel demonstrates accelerating AI revenue or proves capex payback timing is better-than-feared, the stock re-rates; failure to deliver growth against that spending is the core downside scenario.