It's also Intel's largest quarterly loss of all time, beating out the fourth quarter of 2017, when it lost $687 million.
In the first quarter, Intel swung to a net loss of $2.8 billion, or 66 cents per share, from a net profit of $8.1 billion, or $1.98 per share, last year .
For the second quarter, Intel expects to lose 4 cents per share on revenue of $12 billion.
Still, the loss per share and sales were slightly better than soft Wall Street expectations.
In the meantime, a business that used to print money is struggling, especially in PC chips, which used to be the company's strongest product line.