Intel factory losses widen as company plots costly comeback

Intel’s struggles have forced it to outsource the manufacturing of some vital components,

Intel, which employs almost 5,000 people in Ireland, is giving a more detailed picture of its finances as part of an ambitious turnaround plan by chief executive Pat Gelsinger. 

Intel, revealing new details about its manufacturing operations, said that losses have deepened at the chipmaker’s factory network and the business may not reach a break-even point for several years.

Intel Foundry, a new division of the company responsible for manufacturing, had sales of $18.9bn (€17.5bn) in 2023, down from $27.5bn the previous year, the company said. The operating loss at the new unit widened to $7bn from $5.2bn.