Intel discloses $7 billion operating loss for chip-making unit
© Reuters. FILE PHOTO: A man walks past the Intel logo at its booth during the first China International Supply Chain Expo in Beijing, China November 28, 2023. REUTERS/Florence Lo/File PhotoIntel said the manufacturing unit had $7 billion in operating losses for 2023, a steeper loss than the $5.2 billion in operating losses the year before. The unit had revenue of $18.9 billion for 2023, down 31% from $63.05 billion the year before.
As part of that plan, Intel told investors it would start reporting the results of its manufacturing operations as a standalone unit. The company has been investing heavily to catch up to its primary chipmaking rival, Taiwan Semiconductor Manufacturing Co .Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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