• Sat. Apr 20th, 2024

Intel’s $7 Billion Loss for Foundry Business: How the Company is Turning Things Around Through Investments and Partnerships

BySamantha Jones

Apr 2, 2024
Chip-making Unit of Intel Reveals $7 Billion Operating Loss

Intel, a semiconductor company headquartered in Santa Clara, California, has reported increasing operating losses for its foundry business in a recent filing with the U.S. Securities and Exchange Commission. The manufacturing unit recorded $7 billion in operating losses for 2023, an increase from the $5.2 billion losses reported in the previous year. Despite the losses, the unit generated $18.9 billion in revenue for 2023, down significantly from the $63.05 billion revenue generated in the prior year.

Following the disclosure of these losses, Intel’s shares fell by 2%. In response to this news, Intel has announced plans to invest $100 billion in building or expanding chip factories across four U.S states as part of its efforts to turnaround its business.

Intel’s strategy revolves around attracting external companies to use its manufacturing services as a means of generating revenue and improving profitability. By doing so, it hopes to close the gap with its primary competitor Taiwan Semiconductor Manufacturing Co., and become a leading player in the semiconductor industry once again.

To enhance transparency and accountability, Intel has committed to reporting the results of its manufacturing operations as a standalone unit. This move comes after significant investments made by the company to improve its competitive position within the industry.

Despite facing significant challenges in recent years, Intel remains optimistic about its future prospects and is committed to investing heavily in order to strengthen its position within this highly competitive marketplace.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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