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Tuesday, July 16, 2024

What does Intel’s $7 billion loss mean for INTC stock?

What does Intel’s $7 billion loss mean for INTC stock?

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In the unforgiving realm of artificial intelligence, a single misstep can swiftly sideline your company or significantly hinder its chances of success. This is a lesson that Intel (NASDAQ: INTC) learned the hard way when it disclosed $7 billion in losses for its chip-making foundry in 2023. 

This loss comes on the heels of an even larger setback than the $5.2 billion in operating losses reported the previous year. The unit generated revenue of $18.9 billion for 2023, marking a sharp 31% decline from $27.49 billion the year prior.

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