Intel $INTC

Company profile

Intel Corporation describes itself in its Form 10-K for fiscal 2025 as a global designer and manufacturer of semiconductor products, whose CPUs and other semiconductor solutions are incorporated in computing and related end products. As an integrated design manufacturer, it develops leading-edge manufacturing process technologies and advanced packaging and predominantly manufactures its products in its own facilities, many of them in the U.S., and it says it is the only company undertaking both research and development of leading-edge logic process technology and high-volume manufacturing of leading-edge logic semiconductors in the U.S. It also offers foundry services to external customers. Its products are designed and marketed by its Intel Products business, made up of the Client Computing Group (CCG) and Data Center and AI (DCAI) operating segments, and manufactured by its Intel Foundry operating segment and third-party suppliers; it also reports an "all other" category that includes Mobileye and IMS. Its fiscal year ends on the last Saturday in December.

In fiscal 2025 (the 52 weeks ended December 27, 2025) net revenue was $52,853 million, the operating loss was $2,214 million and the net loss attributable to Intel was $267 million, according to the 10-K. On September 12, 2025 Intel sold 51% of Altera, its programmable chip business, for net consideration of $4.3 billion and kept a 49% equity-method interest. Under a Warrant and Common Stock Agreement with the U.S. Department of Commerce dated August 22, 2025, Intel received the remaining $5.7 billion of accelerated CHIPS Act disbursements and issued the Department 275 million shares of common stock, a warrant to buy up to 241 million shares at $20.00 per share that becomes exercisable only if Intel ceases to own at least 51% of its foundry business, and 159 million shares placed in escrow, to be released at $20.00 per share as Intel receives the $3.2 billion of disbursements contemplated under the CHIPS Act Secure Enclave program. Intel also sold 87 million shares to SoftBank Group at $23.00 per share ($2.0 billion) and 215 million shares to NVIDIA at $23.28 per share ($5.0 billion); the NVIDIA sale closed on December 26, 2025, according to the 10-K and a Form 8-K.

According to its 10-Q for the quarter ended June 27, 2026 (unaudited), net revenue was $16,128 million in the second quarter of 2026 and operating income $1,796 million, and the net loss attributable to Intel was $11,033 million; the quarter's results included a $12.5 billion loss on the escrowed shares held for the U.S. government, which the 10-Q says was driven by an increase in Intel's stock price, and the related derivative liability was $15.6 billion at June 27, 2026. In the first quarter of 2026 Intel recorded a $3.9 billion non-cash goodwill impairment, substantially all related to its Mobileye reporting unit. On April 8, 2026 it bought back Apollo's 49% interest in the joint venture for its Fab 34 in Ireland for $14.2 billion, financed with cash on hand and a $6.5 billion bridge loan, and on April 30, 2026 it issued $6.5 billion of senior notes due 2031 to 2066, according to Forms 8-K; the 10-Q says the bridge loan was repaid in full on April 30, 2026. The 10-Q says Intel released its first products made on Intel 18A in high volume at the start of 2026, and that during the second quarter of 2026 it committed to completing development of Intel 14A, its next node; in its 10-K for fiscal 2025 Intel had said it might pause or discontinue Intel 14A if it could not secure a significant external foundry customer for it.

In its July 23, 2026 results release, furnished with a Form 8-K, Intel guided third-quarter 2026 revenue of $15.8 billion to $16.8 billion; this is a company projection, not a reported result. On August 10, 2026 Intel agreed to sell 210,526,315 shares of common stock at $95.00 per share in an underwritten public offering, and on August 11, 2026 the underwriters exercised in full their option to buy up to 31,578,947 additional shares, according to a Form 8-K; its pricing release said the offering was upsized to $20 billion and that Intel intended to use the net proceeds for general corporate purposes, which may include capital expenditures and working capital.

Intel is a Delaware corporation with principal executive offices at 2200 Mission College Boulevard, Santa Clara, California, and its common stock trades on the Nasdaq Global Select Market under the symbol INTC. Its workforce was 85,100 people at December 27, 2025, including Mobileye and other subsidiaries, according to the 10-K, and 82.3 thousand at June 27, 2026, according to its second-quarter release. Lip-Bu Tan, previously Chief Executive Officer of Cadence Design Systems, became Chief Executive Officer and a director on March 18, 2025, according to a Form 8-K. Dr. Craig H. Barratt was elected independent Chair of the Board effective after the May 13, 2026 Annual Meeting, succeeding Frank D. Yeary, according to a March 3, 2026 release furnished with a Form 8-K; stockholders elected all 11 director nominees at that meeting. David Zinsner is Executive Vice President and Chief Financial Officer.

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Revenue by fiscal year, as reported in 10-K

Products

Client Computing Group (CCG)

Data Center and AI (DCAI)

Intel Foundry

All other

Segments and products

• Intel Products: Client Computing Group (CCG; renamed Client Computing and Physical AI Group, CCPG, in 2026): Platforms and processors for PCs and edge devices. The 10-K for fiscal 2025 lists client CPUs (the Intel Core family and the Intel Core Ultra family, whose Series 3 processors, released in 2025, are the first products made on Intel 18A), commercial CPUs with the Intel vPro platform, Intel Arc discrete client GPUs, edge computing versions of its client CPUs, and wireless and wired connectivity products. Segment revenue was $32,228 million in fiscal 2025, $33,346 million in 2024 and $32,305 million in 2023, and operating income $9,317 million, $11,594 million and $10,128 million. In its MD&A the 10-K says client revenue (collectively notebook and desktop) was $27.6 billion in 2025 and other CCG revenue $4.6 billion. Prior-period segment figures were recast for the 2025 integration of the former NEX business into CCG and DCAI.¹
• Intel Products: Data Center and AI (DCAI): Workload-optimized products for data centers based on Intel's x86 architecture, including CPUs, AI accelerators, network interface controllers, IPUs and custom ASICs. The 10-K for fiscal 2025 lists Intel Xeon server processors (3rd, 4th and 5th Gen Xeon Scalable processors, made on Intel 7, were a majority of DCAI product sales by revenue in 2025, alongside Intel Xeon 6), data center GPUs in development (Crescent Island and the Jaguar Shores architecture) and Ethernet networking products. Segment revenue was $16,919 million in fiscal 2025, $16,125 million in 2024 and $15,980 million in 2023, and operating income $3,422 million, $1,414 million and $945 million, as reported in the 10-K.¹
• Intel Foundry (operating segment): Technology development, manufacturing and foundry services: leading-edge process and advanced packaging technologies, manufacturing, assembly and test capacity, and design enablement. Nearly all of the Intel Foundry business supports internal manufacturing for Intel Products; revenue from external customers was $307 million in fiscal 2025, $159 million in 2024 and $547 million in 2023. Segment revenue was $17,826 million in fiscal 2025, $17,317 million in 2024 and $18,504 million in 2023, and the segment had operating losses of $10,318 million, $13,291 million and $7,083 million. Intersegment eliminations were negative $17,683 million in fiscal 2025, as reported in the 10-K.¹
• All other (not a reportable segment): Non-reportable segments, including Mobileye (driving assistance and self-driving solutions; Intel held an 80% ownership interest at December 27, 2025) and IMS (multi-beam mask writing tools; 68%), start-up businesses and the historical results of divested businesses, including Altera through September 11, 2025. Revenue was $3,563 million in fiscal 2025, $3,601 million in 2024 and $5,463 million in 2023, with operating income of $264 million in 2025, an operating loss of $57 million in 2024 and operating income of $1,507 million in 2023, as reported in the 10-K. Corporate unallocated expenses, mainly restructuring and other charges, share-based compensation and acquisition-related costs, were $5,518 million in fiscal 2025.¹
• Segments in the second quarter of 2026 (unaudited): For the three months ended June 27, 2026, CCPG revenue was $8,877 million with operating income of $2,343 million, DCAI revenue $6,262 million with operating income of $2,474 million, Intel Foundry revenue $5,765 million with an operating loss of $2,089 million (of which external customers $293 million), and all other revenue $701 million with operating income of $230 million; intersegment eliminations were negative $5,477 million. In its MD&A the 10-Q says client revenue (notebook and desktop) was $7.7 billion in the quarter, primarily driven by ASP increases of 27%, partially offset by volume decreases of 8%, and server revenue rose on ASP increases of 48%; Mobileye revenue was $507 million.²
• Revenue by region and major customers, fiscal 2025 (not a segment): Based on the billing location of the customer, net revenue was $15,757 million in the United States, $12,694 million in China, $9,535 million in Singapore, $7,672 million in Taiwan and $7,195 million in other regions. Intel's three largest customers accounted for 19%, 12% and 12% of net revenue, 43% in total, substantially all from sales by the Intel Products segments, as reported in the 10-K.¹

Risks

• Intel 14A and external foundry customers: In its 10-K for fiscal 2025 Intel said that if it could not secure a significant external customer for its Intel 14A node it might pause or discontinue development of Intel 14A and subsequent leading-edge nodes, that it had slowed construction of its new fabrication facilities in Ohio, and that it had been unsuccessful to date in securing any significant external foundry customers for any of its nodes. Its 10-Q for the quarter ended June 27, 2026 says it has since committed to completing development of Intel 14A, and that the scale and pace of its manufacturing expansion will be dictated by the committed demand it can obtain from its own products and from design wins with potential significant external customers (10-K; the update is from the 10-Q).¹
• Long-term, capital-intensive investments: Intel says it is making significant, long-term and inherently risky investments in R&D and manufacturing facilities that may not realize a favorable return, and that it may not be able to fund them at the level needed to be competitive. It says delays in new products and process technologies have let competitors using third-party foundries such as TSMC benefit from earlier manufacturing advances, and that it missed the significant shift in compute demand to GPUs optimized for AI workloads and has been unsuccessful to date in becoming a meaningful participant in that market (10-K).¹
• Competition: Intel says it faces intense competition across its product portfolio, from platform products such as AMD and Qualcomm, GPUs from NVIDIA and AMD, ARM-based products, and semiconductors developed in-house by OEMs and cloud service providers, some of whom are its customers. It says many competitors have substantially greater financial resources, that most rely on third-party foundries such as TSMC or Samsung, and that it has lost market share in recent years in both client and data center markets (10-K).¹
• The U.S. government as a significant stockholder: Intel says its 2025 transactions with the U.S. government are complex and subject to risks: the share issuances are dilutive to existing stockholders, with further dilution if the warrant becomes exercisable; they replace future CHIPS Act grant funding with equity investment; and having the U.S. government as a significant stockholder could subject its non-U.S. business, which accounted for 70% of 2025 revenue, to additional regulations, obligations or restrictions in other countries. (10-K).¹
• Israel and the Middle East: The 10-Q says a significant portion of Intel's current and anticipated future revenues come from products on Intel 7 made at its fabrication facility in Israel, that it is not insured for business interruptions resulting from war or political violence and self-insures its Israeli property against such losses, and that in late March 2026 Iran published a list of U.S. companies whose Middle East facilities it said it would target, with Intel near the top. It also says Iranian strikes on energy fields in Qatar caused a global shortage of helium, a gas essential to semiconductor manufacturing (10-Q).²
• Geopolitics, trade and China: Sales outside the U.S. accounted for 70% of Intel's revenue in fiscal 2025, with revenue from billings to China contributing 24% of total revenue. Intel says geopolitical tensions, trade policies, tariffs and export controls, including U.S.-China tensions and rising tensions between mainland China and Taiwan, present significant risks to its operations and to demand for its products (10-K).¹
• Customer concentration: Intel's three largest customers accounted for 43% of net revenue in 2025, 45% in 2024 and 40% in 2023, and it expects a small number of customers to keep accounting for a significant portion of its revenue. It says AI workloads and the shift of data center workloads to the public cloud have increased the purchasing power of certain customers, particularly hyperscalers (10-K).¹
• Supply chain and capacity constraints: Intel relies on a complex global supply chain of thousands of suppliers and says it is currently being impacted by industry supply constraints for memory chips, substrates and foundry capacity. It also uses TSMC and other third-party foundries for key tiles in a number of current and future products (10-K).¹
• Debt and credit ratings: As of December 27, 2025 Intel had $47.2 billion in aggregate principal amount of senior unsecured notes and other borrowings outstanding, and it says it may incur additional indebtedness. It says it suffered multiple credit rating downgrades during 2025 and prior years that adversely impacted its borrowing costs and access to capital, and may suffer more if its business and financial results do not measurably improve (10-K).¹
• Litigation: As of June 27, 2026 Intel had accrued approximately $1.0 billion related to patent litigation brought by VLSI Technology LLC and said it could not reasonably estimate losses in excess of that amount; a Texas jury awarded VLSI approximately $949 million in a third case in 2022, in which final judgment has not been entered. A stockholder derivative suit filed in March 2026 challenges the directors' approval of the August 2025 agreement with the U.S. Department of Commerce and seeks to invalidate it (10-Q).²

Frequently asked questions

What does Intel do?

Intel designs and manufactures semiconductor products, mainly CPUs for PCs and data centers, according to its Form 10-K for fiscal 2025. Its Intel Products business sells client processors such as Intel Core and Intel Core Ultra and Intel Xeon server processors, and its Intel Foundry segment develops process technologies and manufactures chips for Intel Products and also offers foundry services to external customers.

What was Intel's revenue in 2025?

Intel reported net revenue of $52,853 million for fiscal 2025, the 52 weeks ended December 27, 2025, in its Form 10-K filed on January 23, 2026, compared with $53,101 million in fiscal 2024. The net loss attributable to Intel was $267 million, or $0.06 per diluted share.

What are Intel's business segments?

Three reportable segments: Client Computing Group (renamed Client Computing and Physical AI Group in 2026) and Data Center and AI, which together form Intel Products, and Intel Foundry, plus an "all other" category that includes Mobileye and IMS. In fiscal 2025 their revenues were $32,228 million, $16,919 million, $17,826 million and $3,563 million, before intersegment eliminations of negative $17,683 million, according to the 10-K.

How much revenue does Intel Foundry get from outside customers?

Intel Foundry's revenue from external customers was $307 million in fiscal 2025, out of segment revenue of $17,826 million that is substantially sales to Intel Products, according to the 10-K. In the six months ended June 27, 2026 external revenue was $467 million (10-Q, unaudited), which the 10-Q says rose primarily because Altera became an external customer after its deconsolidation.

Why did Intel report a large loss in the second quarter of 2026?

Intel had operating income of $1,796 million in the quarter ended June 27, 2026, and a net loss attributable to Intel of $11,033 million. Interest and other, net was a loss of $12,576 million, which included a $12,529 million mark-to-market loss on shares held in escrow for the U.S. government; the 10-Q says that loss was driven by an increase in Intel's stock price (10-Q, unaudited).

Does the U.S. government own Intel shares?

Yes. Under an agreement with the U.S. Department of Commerce dated August 22, 2025, Intel issued the Department 275 million shares of common stock and a warrant to buy up to 241 million shares at $20.00 per share if Intel ceases to own at least 51% of its foundry business, and placed 159 million shares in escrow to be released as it receives Secure Enclave program disbursements, according to the 10-K. As of June 27, 2026, 143 million escrowed shares had not yet been released (10-Q).

Did NVIDIA invest in Intel?

Yes. Intel sold 214,776,632 shares of common stock to NVIDIA for $5.0 billion in cash, or $23.28 per share, under an agreement dated September 15, 2025; the sale was completed on December 26, 2025, according to a Form 8-K. SoftBank Group also bought 87 million shares at $23.00 per share ($2.0 billion) in September 2025, according to the 10-K.

Who is Intel's CEO?

Lip-Bu Tan has been Chief Executive Officer and a director since March 18, 2025, according to a Form 8-K; he was previously Chief Executive Officer of Cadence Design Systems. Dr. Craig H. Barratt became independent Chair of the Board after the May 13, 2026 Annual Meeting, according to a March 3, 2026 release furnished with a Form 8-K.

Does Intel pay a dividend?

Intel suspended the declaration of quarterly dividends starting with the fourth quarter of 2024, according to its 10-K for fiscal 2024, and its 10-K for fiscal 2025 shows no dividend payments in 2025, compared with $1,599 million in 2024.

What happened to Altera and Mobileye?

Intel sold 51% of Altera to an affiliate of Silver Lake Partners on September 12, 2025 for net consideration of $4.3 billion and kept a 49% interest, according to the 10-K. It held an 80% interest in Mobileye, a publicly traded company, at December 27, 2025, and in the first quarter of 2026 recorded a $3.9 billion non-cash goodwill impairment substantially all related to its Mobileye reporting unit (10-Q).

How is Intel raising money in 2026?

In 2026 Intel issued $6.5 billion of senior notes in April, used cash and a since-repaid $6.5 billion bridge loan to buy back Apollo's 49% interest in its Fab 34 joint venture in Ireland for $14.2 billion, and in August sold 210,526,315 shares at $95.00 per share in a public offering, with the underwriters exercising their option for 31,578,947 more shares, according to Forms 8-K and its 10-Q. Its pricing release said the offering was upsized to $20 billion.

When does Intel's fiscal year end?

On the last Saturday in December. Fiscal 2025 ended December 27, 2025 and was a 52-week year, and fiscal 2026 is also a 52-week year, according to the 10-K for fiscal 2025. Fiscal 2022 was a 53-week year ending December 31, 2022.

Sources

1. Intel Corporation (SEC filing), Intel Corporation Form 10-K for the fiscal year ended December 27, 2025, Jan 23, 2026
2. Intel Corporation (SEC filing), Intel Corporation Form 10-Q for the quarterly period ended June 27, 2026 (unaudited), Jul 24, 2026
3. Intel Corporation (SEC filing), Intel Corporation Form 8-K, Exhibit 99.1: press release dated July 23, 2026, with second-quarter 2026 results and third-quarter 2026 guidance, Jul 23, 2026
4. Intel Corporation (SEC filing), Intel Corporation Form 8-K, Item 3.02: sale of 214,776,632 shares of common stock to NVIDIA Corporation completed December 26, 2025, Dec 29, 2025
5. Intel Corporation (SEC filing), Intel Corporation Form 8-K, Item 8.01: repurchase of Apollo's 49% interest in the Fab 34 (Ireland) joint venture for $14.2 billion, April 8, 2026, Apr 8, 2026
6. Intel Corporation (SEC filing), Intel Corporation Form 8-K, Item 8.01: issuance of $6.5 billion of senior notes due 2031 to 2066, April 30, 2026, Apr 30, 2026
7. Intel Corporation (SEC filing), Intel Corporation Form 8-K, Items 7.01 and 8.01: underwriting agreement of August 10, 2026 for 210,526,315 shares of common stock at $95.00 per share; underwriters' option exercised in full on August 11, 2026, Aug 12, 2026
8. Intel Corporation (SEC filing), Intel Corporation Form 8-K, Exhibit 99.2: pricing press release dated August 10, 2026, Intel Announces Upsize and Pricing of $20 Billion Common Stock Offering, Aug 12, 2026
9. Intel Corporation (SEC filing), Intel Corporation Form 8-K, Item 5.02: Lip-Bu Tan appointed Chief Executive Officer and director, effective March 18, 2025 (event date March 10, 2025), Mar 14, 2025
10. Intel Corporation (SEC filing), Intel Corporation Form 8-K, Exhibit 99.1: press release dated March 3, 2026, Frank D. Yeary to retire as Board Chair; Dr. Craig H. Barratt elected Chair effective after the 2026 Annual Meeting, Mar 3, 2026
11. Intel Corporation (SEC filing), Intel Corporation Form 8-K, Item 5.07: voting results of the May 13, 2026 Annual Meeting of Stockholders, May 15, 2026
12. Intel Corporation (SEC filing), Intel Corporation Form 10-K for the fiscal year ended December 25, 2021, Jan 27, 2022
13. Intel Corporation (SEC filing), Intel Corporation Form 10-K for the fiscal year ended December 31, 2022, Jan 27, 2023
14. Intel Corporation (SEC filing), Intel Corporation Form 10-K for the fiscal year ended December 30, 2023, Jan 26, 2024
15. Intel Corporation (SEC filing), Intel Corporation Form 10-K for the fiscal year ended December 28, 2024, Jan 31, 2025
16. Intel Corporation (SEC filing), Intel Corporation Form 8-K, Exhibit 99.1: press release dated January 22, 2026, Intel Reports Fourth-Quarter and Full-Year 2025 Financial Results, Jan 22, 2026
17. Intel Corporation (SEC filing), Intel Corporation Form 8-K, Exhibit 99.1: press release dated April 23, 2026, Intel Reports First-Quarter 2026 Financial Results, Apr 23, 2026

Figures last checked against the sources above on Oct 12, 2026. General information, not investment advice.