Intel’s chipmaking enterprise misplaced a boatload of billions final yr

IT Companies And Products
Picture by Jakub Porzycki/NurPhoto through Getty Photos

Intel’s chip-making division accrued $7 billion in working losses in 2023, Reuters reported on Tuesday. That’s a giant enhance from $5.2 billion it misplaced in 2022, and whereas it made $18.9 billion in income in 2023, that quantity is down 31 % from the $27.49 billion it made the yr prior.

Nonetheless, based mostly on CEO Pat Gelsinger’s feedback to buyers, the whole loss isn’t a complete shock. Gelsinger says these newest numbers are partially the results of Intel’s previous errors catching up with its foundry enterprise, which brought about the chipmaker to outsource about 30 % of all its wafer manufacturing to different foundries, like TSMC, considered one of Intel’s greatest opponents presently.

However now Intel has invested in utilizing excessive ultraviolet (EUV)…

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