Intel says data center business to grow less than expected

Intel Corp cut revenue growth forecast for its highly profitable business of making chips for data centers as businesses reduce spending due to weak macroeconomic growth. Intel has been counting on the data center business to help offset declining demand for its chips used in personal computers, its biggest revenue generator. The company agreed in June to acquire Altera Corp for $16.7 billion to expand its line-up of the higher-margin chips used in data centers.