Intel’s chipmaking business lost a boatload of billions last year

Apr 3 2024 by The Verge

 
Photo by Jakub Porzycki/NurPhoto via Getty Images

Intel’s chip-making division accumulated $7 billion in operating losses in 2023, Reuters reported on Tuesday. That’s a big increase from $5.2 billion it lost in 2022, and while it made $18.9 billion in revenue in 2023, that number is down 31 percent from the $27.49 billion it made the year prior.

However, based on CEO Pat Gelsinger’s comments to investors, the total loss isn’t a total surprise. Gelsinger says these latest...

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