No problem. Pat will go to the government and demand another a few more billions.

seems so surreal the 2nd most advanced foundry business on the planet to be on the red

Wasting sands cost them 7 bil usd?

Horus-Anhur:

No problem. Pat will go to the government and demand another a few more billions.

I think this thought isn't unfamiliar with Intel investors.

fantaskarsef:

I think this thought isn't unfamiliar with Intel investors.

We already know that a part of those government grants will go to pay out shareholders dividends.

Venix:

seems so surreal the 2nd most advanced foundry business on the planet to be on the red

I think they are investing and retooling their fabs in order to produce better nodes, so this is normal. And right now they only have a few customers for their fans, making matters even worse.

There's a lot of hate for Intel (and a lot of it justified), but we're reaching the point that all advanced manufacturing is in the hands of a single company, which is messed up.

Poor Intel - how will they ever cope with the billions they still received in net revenue? My heart goes out to the struggling shareholders, who carry the world on their shoulders! /s In all seriousness though, it's called an investment. Intel is a technology company. In order to remain relevant and keep the cash flow going, they need to spend the big bucks on the machines that will make them competitive. For anyone who isn't a shareholder, Intel/Gelsinger made no error here.

PrMinisterGR:

There's a lot of hate for Intel (and a lot of it justified), but we're reaching the point that all advanced manufacturing is in the hands of a single company, which is messed up.

Hey haven't seen you in a while - welcome back. But yeah, it's a pretty unsettling situation we're heading in.