Intel slides as foundry business loss spotlights wide gap with rival TSMC
Intel shares fell 5% as the company’s contract chip-making business reported operating losses of billion in 2023. Intel is investing billions to regain its position as a leading chipmaker, but it may take years to catch up with Taiwan Semiconductor Manufacturing Co. Intel plans to break even in its contract chip-making business by 2027 and expects a gross margin of 40% by 2030, still trailing TSMC’s 53% margin.