HP CEO Expects AI Capabilities to Drive PC Category Growth, Despite Downbeat Q1 Profit Forecast

HP Inc CEO Enrique Lores stated in an interview that the company's new computers with artificial intelligence capabilities will double the growth of the PC category, starting next year. The AI technology will allow users to access the cloud and receive analysis from a complex language model locally. Lores also mentioned that the new computers will not be significantly more expensive and predicted a 5-10% average price increase. He expressed optimism about the recovery of the PC market, citing a stronger second half of the year and the transition to Windows 11. HP reported slightly lower quarterly revenue but maintained its annual earnings outlook.