Intel's Foundry Unit Faces $7 Billion Loss, Aims for 2027 Break-Even

CEO Pat Gelsinger remains optimistic despite the unit's financial struggles, with plans to enhance manufacturing capabilities and reduce outsourcing.

Intel's Foundry unit suffered a $7 billion loss in 2023, with operating losses worsening compared to the previous year.
CEO Pat Gelsinger acknowledges 2024 as the year of worst operating losses but remains optimistic about breaking even by 2027.
Intel's decision to delay the adoption of ASML's EUV chipmaking technology has been a significant setback.
The company has secured a $15 billion contract to produce Microsoft's custom chips, marking a notable Foundry deal.
Intel plans to reduce its dependency on outsourcing to TSMC by improving its manufacturing capabilities and adopting new technologies.