Intel Corp. shares are on pace to close out April down more than 30%, their worst month in over 20 years, as the chipmaker continues to struggle with executing a turnaround.

Intel forecast second-quarter revenue and profit below market estimates on Thursday, sending its shares tumbling roughly 8% as it faces weak demand for its traditional data center and PC chips and trails in the surging market for AI components.

Intel's report was the first since the company revealed that it had restructured its financial reports to make Intel Foundry a separate line item.

Intel Corp., the biggest maker of personal computer processors, tumbled the most in three months on Friday after giving a lackluster forecast for the current period, indicating that it’s still struggling to return to the top tier of the chip industry.

Intel Corp. shares dropped 8% in the extended session Thursday, adding to their rough start to the year as the chip company reported revenue slightly