Intel's chipmaking unit posts $7 billion operating loss in 2023

Intel's chipmaking division Intel Foundry recorded an operating loss of $7 billion in 2023, up from $5.2 billion in the previous year. The unit's revenue also dipped 31% year-over-year to $18.9 billion. Intel Foundry's operating losses are expected to peak in 2024 and the business is expected to achieve break-even operating margins by about 2027, Intel CEO Pat Gelsinger said.