Intel said that its foundry business recorded an operating loss of $7 billion in 2023 on sales of $18.9 billion.
Intel shares fell more than 4% in extended trading on Tuesday after the company revealed long-awaited financials for its semiconductor manufacturing business, often called a foundry business, in a SEC filing. That's a wider loss than the $5.2 billion Intel reported in its foundry business in 2022 on $25.7 billion in sales.
Intel has been pitching investors under CEO Patrick Gelsinger on a plan where it would continue to make its own processors, but would also start an external foundry business to make chips for other companies. Intel's role as one of the only American companies doing cutting-edge semiconductor manufacturing on American soil was a big reason why it secured nearly $20 billion in CHIPS act funding last month.
Intel said its newly-organized Products division, which mainly consists of processors for PCs and servers, reported $11.3 billion in operating income on $47.7 in sales in 2023.
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