HP CEO Enrique Lores told CNBC’s Jim Cramer that AI would transform the personal computer sector, including his business.
We believe there is a chance to build a new PC category that will revitalise the market. [AI is] going to help us redefine what a PC is, the experiences users will be able to receive are going to be significantly different, and we are collaborating with all the main software suppliers and key semiconductor providers to rebuild the PC architecture.
HP is creating AI-enabled PCs to transform spreadsheets and data analysis, Lores said. Instead of spending hours manually studying numbers, AI will enable users to produce spreadsheets, analyze data, and debate ideas in seconds.
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Innovative PCs are predicted in 2024.
Jim, I’ve worked in this profession for years. I have never seen an opportunity like this to promote innovation and new client demands that we believe are vital.
HP reported $12.91 billion in second-quarter sales on Tuesday, below the Refinitiv forecast of $13.07 billion. The firm beat second-quarter profit projections and raised its full-year outlook.
CEO Enrique Lores expects a strong second half. As HP finishes channel inventory reduction and prepares for end-of-year sales, he anticipates a big improvement.