Intel expects custom silicon business to grow threefold over next three years

Intel's custom silicon forecast is a bet on a different demand base than the one it is guiding down for PCs, where shipment TAM is expected to shrink two years running. The tension matters: custom work is typically lower-volume and contract-dependent, so a threefold target leans on execution in a segment where Intel is competing against established foundry and ASIC players. Calling the coming year one of investment, alongside a stated belief in a PC renaissance despite falling shipments, suggests the company is asking the market to underwrite a transition before it shows up in volumes. Whether the custom business scales on schedule, and whether PC shipments stabilize, are the open questions.