What you need to know
- Intel foundry saw a loss of $7 billion in 2023. Intel revenue was also down 31% year-over-year.
- Share prices for the chip manufacturer dropped by over 4% following this news.
- These 2023 reports do not see Intel foundry as a separate unit, so they don't fully represent Intel foundry's performance.
- Due to some mistakes over the last few years, 30% of Intel's wafer production has had to be outsourced to other foundaries.
- Intel's CEO says the company will be adopting a new operating model starting Q1 2024, but that he doesn't expect to see the company operating basis break even until 2027.
