U.S. tech giant Intel just dropped a bombshell: Its chip-manufacturing division reported a $7 billion operating loss in 2023, up from $5.2 billion the previous year. 💸 The news comes as Intel scrambles to reclaim its throne in the semiconductor world, now dominated by Taiwan Semiconductor Manufacturing (TSMC).
CEO Pat Gelsinger called 2024 the 'peak year' for losses, with a goal to break even by 2027. The company blamed past missteps—like skipping advanced EUV machines from ASML, which cost over $150 million each but boost efficiency. 🤖 'We’re back in the leadership game,' Gelsinger declared after adopting the tech.
Here’s the twist: Intel outsourced 30% of its wafer production to rivals like TSMC due to these stumbles. Now, it’s betting $100 billion on new U.S. factories 🏭 and hopes to lure outside clients to its revamped manufacturing services. Will this 'all-in' strategy close the gap with TSMC and Samsung? Tech enthusiasts are watching this digital-age drama unfold. 🎮🚀
