Intel reports $7B 2023 foundry operating loss, plans $100B US chip factory investment, aims to reduce outsourced wafer percentage to 20%.
Intel reported a $7 billion operating loss for its foundry business in 2023, up from a $5.2 billion loss in 2022, with revenue falling 31% to $18.9 billion. The company plans to invest $100 billion in building or expanding chip factories in four US states. Intel's CEO, Pat Gelsinger, anticipates the foundry's losses to peak in fiscal 2024 before improving to break even around midway between now and the end of the decade. Intel aims to reduce the percentage of wafers outsourced to external contract manufacturers to around 20%.
April 02, 2024
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