Overview

• 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.