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CEO AMD Intel's chip foundry keeps losing billions of dollars but CEO Gelsinger says this is it, this year is 'the trough'
As part of Intel's internal reshuffling, separating its chip-making facilities into Intel Foundry and everything else as Intel Products, the company filed a Form 8-K with the United States Securities and Exchange Commission. In this document, the full picture of how well the foundry service was performing became clear and with operating losses of $7 billion in 2023, more than $2B worse than the previous year, it's clear that Intel has a lot of work to do to turn that around.
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