It didn’t lose 7 billion, it lost 14++++ millions.
funkiestj on
from the article
>The company held a webinar yesterday to discuss its foundry operations with investors and industry analysts, revealing for the first time that it’s been a money pit for the company and that the bleeding won’t stop soon. According to a [summary](https://www.reuters.com/technology/intel-discloses-financials-foundry-business-2024-04-02/) from Reuters, Intel disclosed that it lost $5.2 billion on its foundry business in 2022, and that number jumped to $7 billion in 2023. **Intel expects that number to increase even further in 2024 when it believes the losses will peak. Looking forward, it expects to break even somewhere around 2027.**
i.e. this is not a surprise to them.
XbabajagaX on
Wow surprise upgrading your foundry business takes a lot of money and time. If you went in for short term gains you are an idiot
Headless_Human on
>building billion dollar factories makes you lose billions of dollars
Who would have guessed.
curse-of-yig on
Dumb article that deserves a downvote.
Obviously they lost billions, they just spent billions building more foundries and those foundries haven’t had time to return their investment.
fmfbrestel on
Companies building things with their profits instead of giving it away to executives or investors is good. The money isn’t “lost” it’s been turned into working capital.
Bush_Trimmer on
as others have commented; it takes money to make money. building new fabs in the us & in europe and breaking even in 3 more yrs is pretty damn good considering their annual capex avg is +25B.
from recent earning report, rev from ifs is 4.4B. loss from segmentation charge is +4B.
idk about everyone else, but would like to see the success of intc’s ifs. us cannot afford to rely completely on foreign-owned fabs from tsm and samsung.
BassmanBiff on
I am really impressed that the person in the thumbnail managed to accentuate their hips in a bunny suit. I didn’t know it was possible to make one of those look good.
the-floot on
I’m really glad all the commenters are on the same page here lol
9 Comments
It didn’t lose 7 billion, it lost 14++++ millions.
from the article
>The company held a webinar yesterday to discuss its foundry operations with investors and industry analysts, revealing for the first time that it’s been a money pit for the company and that the bleeding won’t stop soon. According to a [summary](https://www.reuters.com/technology/intel-discloses-financials-foundry-business-2024-04-02/) from Reuters, Intel disclosed that it lost $5.2 billion on its foundry business in 2022, and that number jumped to $7 billion in 2023. **Intel expects that number to increase even further in 2024 when it believes the losses will peak. Looking forward, it expects to break even somewhere around 2027.**
i.e. this is not a surprise to them.
Wow surprise upgrading your foundry business takes a lot of money and time. If you went in for short term gains you are an idiot
>building billion dollar factories makes you lose billions of dollars
Who would have guessed.
Dumb article that deserves a downvote.
Obviously they lost billions, they just spent billions building more foundries and those foundries haven’t had time to return their investment.
Companies building things with their profits instead of giving it away to executives or investors is good. The money isn’t “lost” it’s been turned into working capital.
as others have commented; it takes money to make money. building new fabs in the us & in europe and breaking even in 3 more yrs is pretty damn good considering their annual capex avg is +25B.
from recent earning report, rev from ifs is 4.4B. loss from segmentation charge is +4B.
idk about everyone else, but would like to see the success of intc’s ifs. us cannot afford to rely completely on foreign-owned fabs from tsm and samsung.
I am really impressed that the person in the thumbnail managed to accentuate their hips in a bunny suit. I didn’t know it was possible to make one of those look good.
I’m really glad all the commenters are on the same page here lol