Intel shares fell 4% at one point in extended trading Tuesday after the company disclosed long-awaited financial data for its semiconductor manufacturing business, often called its foundry business, in an SEC filing.
Intel said its foundry business posted an operating loss of $7 billion in 2023 on sales of $18.9 billion. That’s a bigger loss than the $5.2 billion loss Intel reported for its chipmaking business in 2022 on sales of $25.7 billion.
This is the first time Intel has disclosed how much revenue its semiconductor business generates. Historically, Intel has designed its own chips in addition to doing its own manufacturing, and reported to investors on final chip sales. Other U.S. semiconductor companies, such as Nvidia and AMD, design their own chips but send them to Asian foundries, often Taiwan’s TSMC, for manufacturing.
