Intel CEOs appear in a program organized by Lip-Bo Tan, the company.
Andrez Socolo | Picture alliance | Getty images
IntelAfter stock fell 9% after Chipmaker said This will reduce the foundry cost in its latest attempt to change its struggling business.
Intel’s chip leaves the manufacturing business, concern about it late on Thursday night was overseen. Intel defeated revenue and released sales forecasts for the third quarter, which is also at the top of estimates. According to LSEG, the company topped the adjusted income of 10 cents per share, topping the average analyst estimation of a paise.
CEO Lip-Bo Tan, which was Appointed For jobs in March, employees have written in a memorandum that the company’s upcoming chip manufacturing process, called 14A, will be confirmed based on customer commitments and “no more empty check.” One in Admission With the US Securities and Exchange Commission on Thursday, Intel said that it could completely “stop or close” its foundry business if he cannot secure a customer on his next technology cycle.
The company said in the filing, “We have failed to achieve any important external foundry customers for any of our nodes and our possibilities are uncertain to achieve an important external foundry customer for Intel 14A.”
On Friday, Intel’s fall erased most of its rally for the year. In 2024 shares lost 60% of their value, their worst year on records. The recession reflected Intel’s disability to make a huge lead in the Artificial Intelligence Market, which dominates NvidiaAt the same time there is doubt around doubt.
The company said it was slowing down the chip facilities projects in Germany and Poland and production at its Ohio plant. Intel depends on a large customer to succeed its foundry business.
The management seeks external customer commitments to pursue the node, but in the meantime, the product adds more uncertainty to the roadmap and does not make the customer more likely to adopt, “Barcalage analysts, who have equal to the hold rating on the stock, wrote the customers in a note.
Tan, who replaced Pat Gailinger as CEO, said in the memo that the company’s top is “easy in the first few months.” Intel passes with most of its trimming plans, resulting in a 15% of its workforce and the year will be terminated with 75,000 employees.
“In the last several years, the company invested too much, very soon – without adequate demand,” Tan wrote. “In this process, the footprints of our factory unnecessarily fragmented and reduced,” he said
Intel’s net loss increased by $ 2.9 billion, or 67 cents per share, $ 1.61 billion, or 38 cents in the year-old period. The company recorded a loss of $ 800 million, “related to additional equipment with re -use without any identity.”
Analysts of JP Morgan Chase called Intel’s foundry decision “positive step”, although the loss of market share is a matter of concern.
