https://www.reuters.com/technology/intel-discloses-financials-foundry-business-2024-04-02/
Intel said the manufacturing unit had $7 billion in operating losses for 2023, a steeper loss than the $5.2 billion in operating losses the year before. The unit had revenue of $18.9 billion for 2023, down 31% from $63.05 billion the year before.
During a presentation for investors, Chief Executive Pat Gelsinger said that 2024 would be the year of worst operating losses for the company's chipmaking business and that it expects to break even on an operating basis by about 2027.
Gelsinger said the foundry business was weighed down by bad decisions, including one years ago against using extreme ultraviolet (EUV) machines from Dutch firm ASML (ASML.AS), opens new tab. While those machines can cost more than $150 million, they are more cost-effective than earlier chip making tools.
Intel told investors it would start reporting the results of its manufacturing operations as a standalone unit. The company has been investing heavily to catch up to its primary chipmaking rivals, TSMC and Samsung Electronics Co
