Intel's chip foundry keeps losing billions of dollars but CEO Gelsinger says this is it, this year is 'the trough'
As part of Intel's internal reshuffling, separating its chip-making facilities into Intel Foundry and everything else as Intel Products, the company filed a Form 8-K with the United States Securities and Exchange Commission. In this document, the full picture of how well the foundry service was performing became clear and with operating losses of $7 billion in 2023, more than $2B worse than the previous year, it's clear that Intel has a lot of work to do to turn that around.