Posted 1/26/2024, 12:00:00 AM
Intel Foundry Business Booms on AI Chip Demand, Offsetting Revenue Declines
- Intel reported 63.5% year-on-year revenue growth for its foundry business in Q4
- Intel returned to overall revenue growth in Q4, with $15.4B in revenue, up 10%
- For full year 2023, Intel's revenue declined 14% to $54.2B after 7 quarters of declines
- Surging demand for AI chips has become a new tailwind for Intel's foundry business
- Intel is doubling down on its foundry business due to this new demand driver