Intel disclosed a significant operating loss of $7 billion for its chip-making unit in 2023, signaling challenges in regaining technological dominance. Despite revenue of $18.9 billion, down 31% from the previous year, the company faces intensifying competition from Taiwan Semiconductor Manufacturing. CEO Pat Gelsinger anticipates 2024 to mark the peak of losses, aiming for operational break-even by around 2027.
Intel Reveals $7 Billion Operating Loss for Chip-Making Unit in 2023
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