Posted 4/2/2024, 8:24:27 PM
Intel Foundry Business Struggles with Widening Losses Despite Revenue Drop
- Intel's foundry division revenue declined to $18.9B in 2023 from $27.5B in 2022
- The foundry division's operating losses widened to $7B from $5.2B
- Intel is breaking out the foundry financials as it pursues a strategy of manufacturing chips for other companies
- Intel expects the foundry division to be profitable on an operating basis by 2030
- Intel named a new CFO for the foundry business as part of its reorganization
