Overview
- Intel topped Q4 2025 estimates but cautioned that supply constraints will be most severe in Q1, with improvement expected to begin in Q2 2026.
- The foundry unit posted a roughly $2.5 billion operating loss tied to the early Intel 18A ramp, pressuring margins during the transition.
- Unconfirmed reports indicate Nvidia is evaluating Intel’s foundry for 2028 “Feynman” GPUs, following a late-2025 collaboration and a $5 billion Nvidia stake in Intel.
- Intel has secured multi‑year agreements to fabricate custom 18A chips for Microsoft and Amazon, underscoring traction with major cloud customers.
- Analysts delivered split takes—some raising price targets on AI and 18A progress—while disclosures and shipment trends point to AMD gaining share if Intel’s supply gaps persist.