Intel Corporation INTC
strategy: Acquisition Revenue accelerating Margin expanding Cash flow inflection
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Business Model#
What the company does and how it earns its money; written AI-editorially, exclusively from the company's original reports, without any assessment of our own.
Intel Corporation designs, manufactures, and sells semiconductors and related computing technologies worldwide, organized into two primary reporting segments: Intel Products and Intel Foundry. Intel Products comprises the Client Computing Group (notebooks, desktops, and related peripherals), the Data Center and AI segment (server CPUs, AI accelerators, and network silicon), and the Network and Edge segment; it generates revenue principally through the sale of processors and platform solutions to OEMs, system integrators, enterprises, and hyperscale cloud providers. Intel Foundry provides semiconductor wafer manufacturing services on proprietary process nodes – including Intel 3, Intel 18A, and the newly introduced Intel 18A-P – serving both internal Intel Products customers and external foundry clients, positioning Intel as one of the few companies that both designs and manufactures leading-edge chips at scale.
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Current Status#
Summary of the most recent reporting period: core figures, drivers and management statements; written editorially from the current original report, every figure backed by a source number.
Intel reported Q2 2026 revenue of $16,128 million, up 25% year-over-year and representing the strongest revenue growth in more than fifteen years 29. Data Center and AI segment revenue grew 59% to $6.3 billion, and non-GAAP gross margin expanded to 41.8% from 29.7% in Q2 2025, an improvement of 12.1 percentage points 29. Adjusted EPS was $0.42 for the quarter 129. Intel completed the acquisition of Apollo's remaining 49% minority stake in Ireland SCIP, achieving 100% ownership, and Intel 18A-P entered risk production during the quarter 30.
Management commentary on the 2026-Q2 results (8-K-EX99.1, 2026-07-23):
„AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network. Our Q2 results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus.“ – Lip-Bu Tan, CEO 29
„We delivered a strong second quarter, exceeding our financial guidance on robust demand and improved execution, including volume upside driven by higher factory yields and improved cycle times. AI-driven compute continues to strengthen, and to support expected growth this year and next across products and foundry, we are meaningfully increasing our investments in equipment, clean room space, and substrates.“ – Dave Zinsner, CFO 29
Revenue · 2026-Q216,128$m+25.4 % vs. 2025-Q2
Net profit · 2026-Q2-11,033$m−278.1 % vs. 2025-Q2
EPS · 2026-Q2-2.16$−222.4 % vs. 2025-Q2
Revenue trend
Guidance
For 2026-Q3, the company guides Revenue to $15.8-16.8 billion (initiated); Gross margin (GAAP) to 41.0% (initiated); EPS (GAAP) to $0.31 (initiated). 29.
ProfitabilityGAAP operating income was $1,796 million and adjusted operating income was $2,770 million in Q2 2026 129. GAAP net income was -$11,033 million (-$2.16 diluted EPS), with the loss primarily attributable to a $12.5 billion mark-to-market loss on Escrowed Shares released from and remaining in escrow at the end of the quarter 30 129. Operating cash flow totaled $7,006 million; after capital expenditures of $2,556 million, free cash flow was $4,450 million 129.
LeverageCash and cash equivalents stood at $12,874 million while net debt was $37,663 million at the end of Q2 2026 129. During the quarter Intel issued $6.5 billion in aggregate principal of senior fixed-rate notes to refinance the $6.5 billion term loan originally drawn to fund the Ireland SCIP minority interest repurchase, leaving the gross debt level roughly unchanged 30. No LTM EBITDA figure is stated in the available disclosures, precluding a Net-Debt/EBITDA ratio calculation from the reported inputs.
RecurringIntel Foundry services revenue grew 31% to $5.8 billion in Q2 2026, constituting the manufacturing-services component of Intel's two-segment operating structure 29. Panther Lake entered high-volume manufacturing and Intel 18A-P entered risk production during the quarter, extending the set of process nodes available to foundry customers 29. The inputs do not provide a discrete subscription or aftermarket revenue share beyond the Intel Foundry services segment.
Management viewIntel issued Q3 2026 revenue guidance of $15.8–$16.8 billion with a non-GAAP EPS outlook of $0.38 29. The company announced a €5 billion investment to expand manufacturing capacity for Intel Xeon 6 processors on Intel 3 technology 29. Intel stated a disciplined capital-investment posture, committing only where a clear line of sight to acceptable returns exists and affirming continued development of the future process-node roadmap 30.
ChangeThe Altera business was deconsolidated effective September 12, 2025 following the sale of 51% of its common stock, reducing year-over-year segment revenue comparability throughout the reported periods 30. Market demand exceeded available product supply in Q2 2026 due to industry-wide supply constraints; management expects those constraints to ease in the second half of 2026 30. Intel Products revenue growth of 28% in Q2 2026 was driven primarily by average selling price increases rather than unit volume gains, and consolidated gross profit rose $3.0 billion (84%) year-over-year partly through the absence of $797 million in prior-year asset impairment charges 30.
Risks (current)A securities class action related to Intel's segment reporting and foundry model has been dismissed twice by the district court and is currently on appeal; a stockholder derivative suit filed March 2026 challenging Intel's Warrant and Common Stock Agreement with the U.S. Department of Commerce has motions to dismiss pending as of Q2 2026 30. EireOg has filed 11 IP infringement suits against Intel alleging damages exceeding $2.0 billion, and a Media Content Protection patent case remains on appeal after the court granted Intel summary judgment of invalidity in December 2025 30. Geopolitical tensions encompassing U.S.-China friction, elevated tariffs, and export controls, combined with rapid technological change in the semiconductor industry and significant long-term R&D and manufacturing investments that may not realize favorable returns, represent ongoing business risks 29.
New this reporting periodIntel acquired Apollo's 49% minority ownership interest in Ireland SCIP for $14.2 billion on April 8, 2026, reaching 100% ownership of that manufacturing facility; Intel also announced the acquisition of Mentee Robotics during the quarter 30. Intel 18A-P entered risk production in June 2026, and Intel committed to completing Intel 14A node development in Q2 2026 with further expansion projects underway 30. Additional product launches during the quarter included Xeon 6+ processors, Intel Arc G-Series processors, the Ethernet E835 portfolio, and the OpenVINO Physical AI framework 29.
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Price & Chart#
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Share-Price Drivers#
Factors the company itself names as material for its business development (IR-based); reproduced neutrally, no price forecast and no assessment of our own.
Intel 18A process-node ramp and foundry build-out
18A moved into manufacturing in early 2026 with Panther Lake high-volume production and 18A-P risk production started in Q2 2026, while the first 18A SKU was slated for end-2025 and a 14A node commitment was added in Q2 2026; heavy capex (2,556 in 2026-Q2) and a 11,033 net loss in 2026-Q2 make the payoff of this transition the central swing factor 29 30 21 129
18A moved into manufacturing in early 2026 with Panther Lake high-volume production and 18A-P risk production started in Q2 2026, while the first 18A SKU was slated for end-2025 and a 14A node commitment was added in Q2 2026; heavy capex (2,556 in 2026-Q2) and a 11,033 net loss in 2026-Q2 make the payoff of this transition the central swing factor 29 30 21 129
Foundry/process technology transition (Intel 18A, 18A-P, 14A)
Intel 18A entered manufacturing in early 2026, Panther Lake reached high-volume manufacturing and 18A-P entered risk production in 2026-Q2, with a €5bn manufacturing capacity expansion and an Intel 14A node development commitment announced in Q2 2026 29 30
Intel 18A entered manufacturing in early 2026, Panther Lake reached high-volume manufacturing and 18A-P entered risk production in 2026-Q2, with a €5bn manufacturing capacity expansion and an Intel 14A node development commitment announced in Q2 2026 29 30
Client Computing Group (CCG) demand
CCG was the largest reported segment at 7,727 revenue with a 33% margin in 2026-Q1; product cadence includes Core Ultra processors and the Arc G-Series launched in 2026-Q2 28 29
CCG was the largest reported segment at 7,727 revenue with a 33% margin in 2026-Q1; product cadence includes Core Ultra processors and the Arc G-Series launched in 2026-Q2 28 29
Data Center & AI (DCAI) and AI accelerators
DCAI posted 5,052 revenue at 31% margin in 2026-Q1; Xeon 6+ launched in 2026-Q2 and Gaudi AI accelerators remain in market, but no forward guidance was provided 28 29 26
DCAI posted 5,052 revenue at 31% margin in 2026-Q1; Xeon 6+ launched in 2026-Q2 and Gaudi AI accelerators remain in market, but no forward guidance was provided 28 29 26
Profitability and restructuring
2026-Q2 showed a 11,033 net loss and diluted EPS of -2.16 despite positive operating income of 1,796; the 2024 Restructuring Plan and dividend suspension (Q4 2024) reflect continued cost and balance-sheet pressure with net debt of 37,663 129 16
2026-Q2 showed a 11,033 net loss and diluted EPS of -2.16 despite positive operating income of 1,796; the 2024 Restructuring Plan and dividend suspension (Q4 2024) reflect continued cost and balance-sheet pressure with net debt of 37,663 129 16
Group revenue trajectory
Revenue rose to 16,128 in 2026-Q2 from 13,577 in 2026-Q1, with the change flag marked accelerating and operating cash flow of 7,006 in the quarter 129 127
Revenue rose to 16,128 in 2026-Q2 from 13,577 in 2026-Q1, with the change flag marked accelerating and operating cash flow of 7,006 in the quarter 129 127
Sector trend: Semiconductor demand is being driven by AI compute and advanced-node adoption, with new process nodes (18A/18A-P) and AI-oriented parts (Xeon 6+, Gaudi, Arc) ramping 29 26. Margins and cash flow remain pressured by elevated foundry capex and restructuring, so utilisation of new capacity is the key sector KPI to watch 129 16.
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Event Timeline#
This timeline collects the material events from the original reports: guidance changes, revenue and margin signals, strategy shifts, product and M&A announcements. Events are grouped by quarter (most recent first); the grey tag before each event names the event type, the date is the publication date of the source. Management quotes open the quarter block as direct quotes. Per quarter we show the three most defining events; more can be expanded per quarter, older years are collapsed. Every event carries its source as a superscript, clickable number.
Overview: one dot per event · click jumps to the period
2026 · 7 events
2026-Q2 · Apr – Jun 2026
„AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network. Our Q2 results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus.“ – Lip-Bu Tan, CEO 29
Acquisition 2026-07-24
Acquired Apollo's 49% minority ownership interest in Ireland SCIP for $14.2 billion, achieving 100% ownership; $6.5 billion in senior fixed-rate notes issued in Q2 2026 to refinance the term loan used to fund the transaction 30
Acquired Apollo's 49% minority ownership interest in Ireland SCIP for $14.2 billion, achieving 100% ownership; $6.5 billion in senior fixed-rate notes issued in Q2 2026 to refinance the term loan used to fund the transaction 30
Revenue accelerating 2026-07-23
Q2 revenue reached $16.1 billion, up 25% year-over-year – the strongest revenue growth in more than fifteen years – with Data Center and AI up 59% to $6.3 billion driven by increased demand for AI infrastructure 29
Q2 revenue reached $16.1 billion, up 25% year-over-year – the strongest revenue growth in more than fifteen years – with Data Center and AI up 59% to $6.3 billion driven by increased demand for AI infrastructure 29
Margin expanding 2026-07-23
Non-GAAP gross margin expanded to 41.8% from 29.7% in Q2 2025; prior-year comparison includes $797 million in asset impairment charges absent from Q2 2026 29 30
Non-GAAP gross margin expanded to 41.8% from 29.7% in Q2 2025; prior-year comparison includes $797 million in asset impairment charges absent from Q2 2026 29 30
Cash flow inflection 2026-07-23
Operating cash flow reached 7,006.0 USDm vs 2,050.0 USDm in 2025-Q2 (×3.4). 29
Operating cash flow reached 7,006.0 USDm vs 2,050.0 USDm in 2025-Q2 (×3.4). 29
2026-Q1 · Jan – Mar 2026
„The next wave of AI will bring intelligence closer to the end user, moving from foundational models to inference to agentic. This shift is significantly increasing the need for Intel's CPUs and wafer and advanced packaging offerings. With a solid foundation in place, we are addressing this opportunity by listening to our customers and driving their success with our technical expertise and differentiated IP. This deliberate reset to how we operate drove a sixth consecutive quarter of revenue above our expectations, as well as new and deepened relationships with strategic partners.“ – Lip-Bu Tan, Chief Executive Officer 27
earnings 2026-04-24
GAAP net loss of $3.7 billion in Q1 2026, primarily driven by a $3.9 billion goodwill impairment charge related to the Mobileye reporting unit reflecting sustained decline in market capitalization and increased macroeconomic uncertainty 28
GAAP net loss of $3.7 billion in Q1 2026, primarily driven by a $3.9 billion goodwill impairment charge related to the Mobileye reporting unit reflecting sustained decline in market capitalization and increased macroeconomic uncertainty 28
Revenue accelerating 2026-04-23
Q1 revenue reached $13.6 billion, up 7% year-over-year, led by Data Center and AI (+22% to $5.1 billion) and Intel Foundry (+16% to $5.4 billion) 27
Q1 revenue reached $13.6 billion, up 7% year-over-year, led by Data Center and AI (+22% to $5.1 billion) and Intel Foundry (+16% to $5.4 billion) 27
2025 · 15 events
2025-Q4 · Oct – Dec 2025
„Our conviction in the essential role of CPUs in the AI era continues to grow. We delivered a solid finish to the year and made progress on our journey to build a new Intel. The introduction of our first products on Intel 18A – the most advanced process technology developed and manufactured in the United States – marks an important milestone, and we're working aggressively to grow supply to meet strong customer demand. Our priorities are clear: sharpen execution, reinvigorate engineering excellence, and fully capitalize on the vast opportunity AI presents across all of our businesses.“ – Lip-Bu Tan, CEO 25
Revenue decelerating 2026-01-22
Q4 revenue of $13.7 billion declined 4% year-over-year; full-year revenue of $52.9 billion was flat year-over-year 25
Q4 revenue of $13.7 billion declined 4% year-over-year; full-year revenue of $52.9 billion was flat year-over-year 25
Guidance initiated 2026-01-22
Initiated Q1 2026 guidance: revenue $11.7-12.7 billion; GAAP EPS $(0.21), non-GAAP EPS $0.00 25
Initiated Q1 2026 guidance: revenue $11.7-12.7 billion; GAAP EPS $(0.21), non-GAAP EPS $0.00 25
Strategic pivot 2026-01-22
Intel 18A ramped to high-volume manufacturing in Arizona and Oregon; Intel Foundry and ASML demonstrated technical viability of High NA EUV lithography for future high-volume manufacturing 25
Intel 18A ramped to high-volume manufacturing in Arizona and Oregon; Intel Foundry and ASML demonstrated technical viability of High NA EUV lithography for future high-volume manufacturing 25
2025-Q3 · Jul – Sep 2025
„Our Q3 results reflect improved execution and steady progress against our strategic priorities. AI is accelerating demand for compute and creating attractive opportunities across our portfolio, including our core x86 platforms, new efforts in purpose-built ASICs and accelerators, and foundry services. Intel's industry-leading CPUs and ecosystem, along with our unique U.S.-based leading-edge logic manufacturing and R&D, position us well to capitalize on these trends over time.“ – Lip-Bu Tan, Chief Executive Officer 23
Divestiture 2025-10-23
Closed sale of 51% of Altera on September 12, 2025 for $4.3 billion net proceeds; Altera deconsolidated and $5.5 billion pre-tax gain recognized in interest and other, net 23 24
Closed sale of 51% of Altera on September 12, 2025 for $4.3 billion net proceeds; Altera deconsolidated and $5.5 billion pre-tax gain recognized in interest and other, net 23 24
Strategic pivot 2025-10-23
NVIDIA agreed to invest $5.0 billion in Intel common stock and collaborate on multiple generations of custom data center and PC products using NVIDIA NVLink; SoftBank Group made a $2.0 billion investment in Intel common stock 23
NVIDIA agreed to invest $5.0 billion in Intel common stock and collaborate on multiple generations of custom data center and PC products using NVIDIA NVLink; SoftBank Group made a $2.0 billion investment in Intel common stock 23
Strategic pivot 2025-10-23
Unveiled Intel Core Ultra Series 3 (Panther Lake), first client SoCs built on Intel 18A; Fab 52 at Ocotillo campus became fully operational producing Intel 18A wafers 23
Unveiled Intel Core Ultra Series 3 (Panther Lake), first client SoCs built on Intel 18A; Fab 52 at Ocotillo campus became fully operational producing Intel 18A wafers 23
Operating income turned positive 2025-10-23
Operating income turned positive for the first time after 2 negative periods (-3176.0 to +683.0 USDm). 23
Operating income turned positive for the first time after 2 negative periods (-3176.0 to +683.0 USDm). 23
Net income turned positive 2025-10-23
Net income turned positive for the first time after 6 negative periods (-2918.0 to +4063.0 USDm). 23
Net income turned positive for the first time after 6 negative periods (-2918.0 to +4063.0 USDm). 23
2025-Q2 · Apr – Jun 2025
„Our operating performance demonstrates the initial progress we are making to improve our execution and drive greater efficiency. We are laser-focused on strengthening our core product portfolio and our AI roadmap to better serve customers. We are also taking the actions needed to build a more financially disciplined foundry. It's going to take time, but we see clear opportunities to enhance our competitive position, improve our profitability and create long-term shareholder value.“ – Lip-Bu Tan, Chief Executive Officer 22
Guidance confirmed 2025-07-24
Confirmed $17 billion non-GAAP operating expense target for 2025 and $16 billion for 2026; guided Q3 2025 revenue of $12.6-13.6 billion with non-GAAP EPS of $0.00 22
Confirmed $17 billion non-GAAP operating expense target for 2025 and $16 billion for 2026; guided Q3 2025 revenue of $12.6-13.6 billion with non-GAAP EPS of $0.00 22
Strategic pivot 2025-07-24
Initiated 2025 Restructuring Plan targeting 15% core workforce reduction by year-end; recognized $1.9 billion in Q2 charges including $1.5 billion severance and $416 million asset impairment 21
Initiated 2025 Restructuring Plan targeting 15% core workforce reduction by year-end; recognized $1.9 billion in Q2 charges including $1.5 billion severance and $416 million asset impairment 21
Strategic pivot 2025-07-24
Cancelled planned manufacturing projects in Germany and Poland, slowed Ohio construction pace, and initiated consolidation of Costa Rica assembly and test operations into Vietnam and Malaysia sites 22
Cancelled planned manufacturing projects in Germany and Poland, slowed Ohio construction pace, and initiated consolidation of Costa Rica assembly and test operations into Vietnam and Malaysia sites 22
2025-Q1 · Jan – Mar 2025
„The first quarter was a step in the right direction, but there are no quick fixes as we work to get back on a path to gaining market share and driving sustainable growth. I am taking swift actions to drive better execution and operational efficiency while empowering our engineers to create great products. We are going back to basics by listening to our customers and making the changes needed to build the new Intel.“ – Lip-Bu Tan, Chief Executive Officer 19
Strategic pivot 2026-01-23
Lip-Bu Tan appointed Chief Executive Officer in March 2025, representing a leadership transition at the company 26
Lip-Bu Tan appointed Chief Executive Officer in March 2025, representing a leadership transition at the company 26
Divestiture 2025-04-25
Signed agreement to sell 51% of Altera to Silver Lake Partners for expected net cash proceeds of approximately $4.4 billion, expected to close H2 2025 20
Signed agreement to sell 51% of Altera to Silver Lake Partners for expected net cash proceeds of approximately $4.4 billion, expected to close H2 2025 20
Segment divergence 2025-04-25
DCAI revenue grew +37.5% to 4,126.0 USDm in 2025-Q1 (33% of group revenue) while group revenue changed -0.4%. 20
DCAI revenue grew +37.5% to 4,126.0 USDm in 2025-Q1 (33% of group revenue) while group revenue changed -0.4%. 20
Margin compressing 2025-04-24
Non-GAAP gross margin compressed 5.9 percentage points to 39.2% from 45.1%, driven by Gaudi AI accelerator inventory reserves 19
Non-GAAP gross margin compressed 5.9 percentage points to 39.2% from 45.1%, driven by Gaudi AI accelerator inventory reserves 19
2024 · 12 events
2024-Q4 · Oct – Dec 2024
„The fourth quarter was a positive step forward as we delivered revenue, gross margin and EPS above our guidance. Our renewed focus on strengthening and simplifying our product portfolio, combined with continued progress on our process roadmap, is positioning us to better serve the needs of our customers. Dave and I are taking actions to enhance our competitive position and create shareholder value.“ – Michelle Johnston Holthaus, interim co-CEO of Intel and CEO of Intel Products 17
Strategic pivot 2025-01-31
CEO retired in December 2024 after less than four years; Michelle Johnston Holthaus and David Zinsner appointed interim co-CEOs, Frank Yeary as interim executive chair, with a permanent CEO search underway 18
CEO retired in December 2024 after less than four years; Michelle Johnston Holthaus and David Zinsner appointed interim co-CEOs, Frank Yeary as interim executive chair, with a permanent CEO search underway 18
Revenue decelerating 2025-01-30
Q4 revenue of $14.3B declined 7% YoY; full-year 2024 revenue of $53.1B fell 2% YoY 17
Q4 revenue of $14.3B declined 7% YoY; full-year 2024 revenue of $53.1B fell 2% YoY 17
Strategic pivot 2025-01-30
Intel signed a definitive agreement with the U.S. Department of Commerce for up to $7.86B in direct CHIPS Act funding, with $1.1B received in Q4 2024 and an additional $1.1B in January 2025 17
Intel signed a definitive agreement with the U.S. Department of Commerce for up to $7.86B in direct CHIPS Act funding, with $1.1B received in Q4 2024 and an additional $1.1B in January 2025 17
Operating income turned positive 2025-01-30
Operating income turned positive for the first time after 3 negative periods (-9057.0 to +412.0 USDm). 125
Operating income turned positive for the first time after 3 negative periods (-9057.0 to +412.0 USDm). 125
Operating income halved 2025-01-30
Operating income more than halved YoY (2,585.0 to 412.0 USDm, -84%). 125
Operating income more than halved YoY (2,585.0 to 412.0 USDm, -84%). 125
2024-Q3 · Jul – Sep 2024
„Our Q3 results underscore the solid progress we are making against the plan we outlined last quarter to reduce costs, simplify our portfolio and improve organizational efficiency. We delivered revenue above the midpoint of our guidance, and are acting with urgency to position the business for sustainable value creation moving forward. The momentum we are building across our product portfolio to maximize the value of our x86 franchise, combined with the strong interest Intel 18A is attracting from foundry customers, reflects the impact of our actions and the opportunities ahead.“ – Pat Gelsinger, Chief Executive Officer 15
earnings 2024-10-31
GAAP net loss of $16.6B versus net income of $297M in Q3 2023, primarily due to $15.9B in non-cash impairment charges ($9.9B U.S. deferred tax asset valuation allowance, $3.1B Intel 7 manufacturing asset impairments, $2.9B Mobileye goodwill) and $2.8B in restructuring charges 15 16
GAAP net loss of $16.6B versus net income of $297M in Q3 2023, primarily due to $15.9B in non-cash impairment charges ($9.9B U.S. deferred tax asset valuation allowance, $3.1B Intel 7 manufacturing asset impairments, $2.9B Mobileye goodwill) and $2.8B in restructuring charges 15 16
Revenue decelerating 2024-10-31
Revenue declined 6% YoY to $13.3B; Intel Foundry revenue fell 8% to $4.4B and Client Computing Group declined 7% 15
Revenue declined 6% YoY to $13.3B; Intel Foundry revenue fell 8% to $4.4B and Client Computing Group declined 7% 15
Strategic pivot 2024-10-31
Intel announced plans to establish Intel Foundry as an independent subsidiary and disclosed a multi-year, multi-billion-dollar AWS commitment for a custom Xeon 6 chip on Intel 3 and an AI fabric chip on Intel 18A 15
Intel announced plans to establish Intel Foundry as an independent subsidiary and disclosed a multi-year, multi-billion-dollar AWS commitment for a custom Xeon 6 chip on Intel 3 and an AI fabric chip on Intel 18A 15
2024-Q2 · Apr – Jun 2024
„Our Q2 financial performance was disappointing, even as we hit key product and process technology milestones. Second-half trends are more challenging than we previously expected, and we are leveraging our new operating model to take decisive actions that will improve operating and capital efficiencies while accelerating our IDM 2.0 transformation. These actions, combined with the launch of Intel 18A next year to regain process technology leadership, will strengthen our position in the market, improve our profitability and create shareholder value.“ – Pat Gelsinger, CEO 13
Revenue decelerating 2024-08-01
Q2 revenue of $12.8B declined 1% YoY, with Data Center and AI revenue down 3% from competitive pressure and Intel Foundry operating loss widening to $2.8B from $1.9B in Q2 2023 13 14
Q2 revenue of $12.8B declined 1% YoY, with Data Center and AI revenue down 3% from competitive pressure and Intel Foundry operating loss widening to $2.8B from $1.9B in Q2 2023 13 14
Strategic pivot 2024-08-01
Announced $10B cost reduction plan including more than 15% headcount reduction, gross capex cut more than 20% from prior projections, and quarterly dividend suspended starting Q4 2024 to prioritize liquidity 13
Announced $10B cost reduction plan including more than 15% headcount reduction, gross capex cut more than 20% from prior projections, and quarterly dividend suspended starting Q4 2024 to prioritize liquidity 13
2024-Q1 · Jan – Mar 2024
revenue 2024-04-26
Consolidated net revenue rose 9% YoY to $12.7B, led by Client Computing Group growth of 31% on higher notebook and desktop volumes 12
Consolidated net revenue rose 9% YoY to $12.7B, led by Client Computing Group growth of 31% on higher notebook and desktop volumes 12
Margin expanding 2024-04-26
GAAP gross margin improved to 41.0% from 34.2% in Q1 2023, driven by higher Client Computing Group product profit and lower period charges from prior-year inventory sell-through 12
GAAP gross margin improved to 41.0% from 34.2% in Q1 2023, driven by higher Client Computing Group product profit and lower period charges from prior-year inventory sell-through 12
2023 · 15 events
2023-Q4 · Oct – Dec 2023
„We delivered strong Q4 results, surpassing expectations for the fourth consecutive quarter with revenue at the higher end of our guidance. The quarter capped a year of tremendous progress on Intel's transformation, where we consistently drove execution and accelerated innovation, resulting in strong customer momentum for our products. In 2024, we remain relentlessly focused on achieving process and product leadership, continuing to build our external foundry business and at-scale global manufacturing, and executing our mission to bring AI everywhere as we drive long-term value for stakeholders.“ – Pat Gelsinger, Chief Executive Officer 9
Revenue accelerating 2024-01-25
Q4 revenue of $15.4B rose 10% YoY, the first positive year-over-year quarter of 2023; full-year revenue $54.2B, down 14% YoY 9
Q4 revenue of $15.4B rose 10% YoY, the first positive year-over-year quarter of 2023; full-year revenue $54.2B, down 14% YoY 9
Margin expanding 2024-01-25
Q4 gross margin expanded to 45.7% GAAP and 48.8% non-GAAP from 39.2% and 43.8% respectively in Q4 2022 9
Q4 gross margin expanded to 45.7% GAAP and 48.8% non-GAAP from 39.2% and 43.8% respectively in Q4 2022 9
Guidance initiated 2024-01-25
Q1 2024 guidance: revenue $12.2-13.2B, GAAP EPS $(0.25), non-GAAP EPS $0.13 9
Q1 2024 guidance: revenue $12.2-13.2B, GAAP EPS $(0.25), non-GAAP EPS $0.13 9
2023-Q3 · Jul – Sep 2023
„We delivered a standout third quarter, underscored by across-the-board progress on our process and product roadmaps, agreements with new foundry customers, and momentum as we bring AI everywhere. We continue to make meaningful progress on our IDM 2.0 transformation by relentlessly advancing our strategy, rebuilding our execution engine and delivering on our commitments to our customers.“ – Pat Gelsinger, Chief Executive Officer 7
Divestiture 2023-10-27
Tower Semiconductor acquisition agreement terminated by mutual agreement; Intel paid $353M termination fee 8
Tower Semiconductor acquisition agreement terminated by mutual agreement; Intel paid $353M termination fee 8
earnings 2023-10-26
Non-GAAP EPS of $0.41, up 11% YoY, while rate of year-over-year revenue decline moderated to 8% from 36% in Q1 7
Non-GAAP EPS of $0.41, up 11% YoY, while rate of year-over-year revenue decline moderated to 8% from 36% in Q1 7
Strategic pivot 2023-10-26
Announced intent to separate PSG into standalone business with IPO planned over next two to three years; Intel to retain majority stake 7
Announced intent to separate PSG into standalone business with IPO planned over next two to three years; Intel to retain majority stake 7
2023-Q2 · Apr – Jun 2023
„Our Q2 results exceeded the high end of our guidance as we continue to execute on our strategic priorities, including building momentum with our foundry business and delivering on our product and process roadmaps. We are also well-positioned to capitalize on the significant growth across the AI continuum by championing an open ecosystem and silicon solutions that optimize performance, cost and security to democratize AI from cloud to enterprise, edge and client.“ – Pat Gelsinger, Chief Executive Officer 5
Revenue decelerating 2023-07-27
Q2 revenue declined 15% YoY to $12.9B on continued lower notebook and desktop volumes in CCG and lower server volumes in DCAI 5
Q2 revenue declined 15% YoY to $12.9B on continued lower notebook and desktop volumes in CCG and lower server volumes in DCAI 5
Strategic pivot 2023-07-27
Signed revised LOI with German federal government for Magdeburg wafer fab with investment expected to exceed €30B; selected Wrocław, Poland as assembly and test site with investment up to $4.6B 5
Signed revised LOI with German federal government for Magdeburg wafer fab with investment expected to exceed €30B; selected Wrocław, Poland as assembly and test site with investment up to $4.6B 5
Divestiture 2023-07-27
Agreed to sell approximately 20% stake in IMS Nanofabrication to Bain Capital Special Situations, valuing IMS at approximately $4.3B 5
Agreed to sell approximately 20% stake in IMS Nanofabrication to Bain Capital Special Situations, valuing IMS at approximately $4.3B 5
Net income turned positive 2023-07-27
Net income turned positive for the first time after 2 negative periods (-2758.0 to +1481.0 USDm). 111
Net income turned positive for the first time after 2 negative periods (-2758.0 to +1481.0 USDm). 111
Cash flow inflection 2023-07-27
Operating cash flow reached 2,808.0 USDm vs 809.0 USDm in 2022-Q2 (×3.5). 111
Operating cash flow reached 2,808.0 USDm vs 809.0 USDm in 2022-Q2 (×3.5). 111
2023-Q1 · Jan – Mar 2023
„We delivered solid first-quarter results, representing steady progress with our transformation. We hit key execution milestones in our data center roadmap and demonstrated the health of the process technology underpinning it. While we remain cautious on the macroeconomic outlook, we are focused on what we can control as we deliver on IDM 2.0: driving consistent execution across process and product roadmaps and advancing our foundry business to best position us to capitalize on the $1 trillion market opportunity ahead.“ – Pat Gelsinger, Chief Executive Officer 3
earnings 2023-04-27
Net loss of $2.758B ($(0.66) diluted EPS); GAAP operating margin of (12.5)%, down 36.2 pp YoY 3
Net loss of $2.758B ($(0.66) diluted EPS); GAAP operating margin of (12.5)%, down 36.2 pp YoY 3
Revenue decelerating 2023-04-27
Q1 revenue fell 36% YoY to $11.7B, driven by lower demand across CCG, DCAI, and NEX and customer inventory reduction efforts 3
Q1 revenue fell 36% YoY to $11.7B, driven by lower demand across CCG, DCAI, and NEX and customer inventory reduction efforts 3
Strategic pivot 2023-04-27
IFS and Arm announced multigeneration agreement enabling chip designers to build SoCs on Intel 18A process 3
IFS and Arm announced multigeneration agreement enabling chip designers to build SoCs on Intel 18A process 3
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Key Figures ($m)#
The company's core financial figures in three views, one below the other: fiscal years (as reported; after restatements the table shows the most recent filing version, marked), half-years (6-month basis, H2 = second half on its own) and quarters (3-month basis, not cumulative). Each row is one period, most recent first. Values with a dotted underline are clickable and show the raw value, the exact source location, the scale evidence and the source; derived values additionally show their formula and inputs. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original.
All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.
Revenue ($m) · annual basis, as reported
Net income ($m) · annual basis, as reported
EPS ($) · annual basis, as reported
Operating cash flow ($m) · annual basis, as reported
Revenue ($m) · quarterly basis, as reported
Net income ($m) · quarterly basis, as reported
EPS ($) · quarterly basis, as reported
Operating cash flow ($m) · quarterly basis, as reported
Cash ($m) · annual basis, as reported
Debt ($m) · annual basis, as reported
Net Debt ($m) · annual basis, as reported
Capex ($m) · annual basis, as reported
FCF ($m) · annual basis, as reported
D&A ($m) · annual basis, as reported
Cash ($m) · quarterly basis, as reported
Debt ($m) · quarterly basis, as reported
Net Debt ($m) · quarterly basis, as reported
Capex ($m) · quarterly basis, as reported
FCF ($m) · quarterly basis, as reported
D&A ($m) · quarterly basis, as reported
Shown: the most recent fiscal years. Full history since FY2016 is on record.
Fiscal years
Amounts in $m · EPS in $ per share · as reported
| Period | Revenue | Op. income | Op. income (adj.) | Net income | EPS ($) | EPS adj. ($) | OCF | Source |
|---|---|---|---|---|---|---|---|---|
| FY2025 | 52,853 | -2,214 | 2,916 | -267 | -0.06 | 0.42 | 9,697 | 26 |
| FY2024 | 53,101 | -11,678 | -254 | -18,756 | -4.38 | -0.13 | 8,288 | 18 |
| FY2023 | 54,228 | 93 | 4,666 | 1,689 | 0.40 | 1.04 | 11,471 | 10 |
Quarters
Amounts in $m · EPS in $ per share · Net Debt/EBITDA as a multiple · as reported
| Period | Published | Revenue | Op. income | Op. income (adj.) | Net income | EPS ($) | EPS adj. ($) | FCF | Cash | Net Debt | Net Debt/EBITDA (x) | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2* | 2026-07-23 | 16,128 | 1,796 | 2,770 | -11,033 | -2.16 | 0.42 | 4,450 | 12,874 | 37,663 | 2.9x (LTM) | 29 |
| 2026-Q1* | 2026-04-23 | 13,577 | -3,136 | 1,668 | -3,728 | -0.73 | 0.29 | -2,540 | 17,247 | 27,784 | – | 27 |
| 2025-Q4* | 2026-01-22 | 13,674 | 580 | 1,205 | -333 | -0.07* | 0.15 | 800 | 14,265 | 32,320 | – | 125 |
| 2025-Q3* | 2025-10-23 | 13,653 | 683 | 1,524 | 4,063 | 0.90 | 0.23 | 121 | 11,141 | 35,412 | – | 23 |
| 2025-Q2* | 2025-07-24 | 12,859 | -3,176 | -503 | -2,918 | -0.67 | -0.10 | -1,500 | 9,643 | 41,114 | – | 21 |
| 2025-Q1* | 2025-01-30 | 12,667 | -301 | 690 | -821 | -0.19 | 0.13 | -4,370 | 8,947 | 41,204 | – | 17 |
| 2024-Q4* | 2025-01-30 | 14,260 | 412 | 1,368 | -153 | -0.04* | 0.13 | -2,669 | 8,249 | 41,762 | – | 17 |
| 2024-Q3* | 2024-10-31 | 13,284 | -9,057 | -2,369 | -16,639 | -3.88 | -0.46 | -2,404 | 8,785 | 41,451 | – | 15 |
| 2024-Q2* | 2024-08-01 | 12,833 | -1,964 | 24 | -1,654 | -0.38 | 0.02 | -3,390 | 11,287 | 41,742 | – | 13 |
| 2024-Q1* | 2024-04-26 | 12,724 | -1,069 | 723 | -381 | -0.09 | 0.18 | -7,193 | 6,923 | 45,527 | – | 12 |
| 2023-Q4* | 2024-01-25 | 15,406 | 2,585 | 2,580 | 2,660 | 0.65* | 0.54 | -2,072 | 7,079 | 42,187 | – | 117 |
| 2023-Q3* | 2023-10-26 | 14,158 | -8 | 1,924 | 297 | 0.07 | 0.41 | 71 | 7,621 | 41,258 | – | 7 |
| 2023-Q2* | 2023-07-27 | 12,949 | -1,016 | 456 | 1,481 | 0.35 | 0.13 | -3,080 | 8,349 | 40,697 | – | 5 |
| 2023-Q1* | 2023-04-27 | 11,715 | -1,468 | -294 | -2,758 | -0.66 | -0.04 | -9,198 | 8,232 | 42,041 | – | 3 |
* derived: values with formula provenance (hover); Q4 = FY − 9M · H2 = FY − H1 · EPS via implied shares · net debt = financial debt − cash · FCF = OCF − |capex|.
Columns not reported in this reporting cadence are hidden: EBITDA (adj.) (not reported in any source for these periods).
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Balance Sheet & Cash Flow ($m)#
Point-in-time balance sheet items (e.g. cash, financial debt) and cash flow items (operating cash flow, investments/capex) per fiscal year, half-year and quarter. Balance sheet values are as of the period end, flow items cover the period. Derived values are marked and are calculated, for example, as: net debt = financial debt − cash; free cash flow = operating cash flow − capex; the click popover shows formula and inputs. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original.
Fiscal years
Amounts in $m · as reported
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | 2026-01-22 | 14,265 | 46,585 | 32,320 | 11,706 | 9,697 | 14,646 | -4,949 | 25 |
| FY2024 | 2025-01-30 | 8,249 | 50,011 | 41,762 | 11,379 | 8,288 | 23,944 | -15,656 | 17 |
| FY2023 | 2024-01-25 | 7,079 | 49,266 | 42,187 | 9,602 | 11,471 | 25,750 | -14,279 | 9 |
Quarters
Amounts in $m · as reported
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2 | 2026-07-23 | 12,874 | 50,537 | 37,663 | 3,224 | 7,006 | 2,556 | 4,450 | 29 |
| 2026-Q1 | 2026-04-23 | 17,247 | 45,031 | 27,784 | 3,136 | 1,096 | 3,636 | -2,540 | 27 |
| 2025-Q4 | 2026-01-22 | 14,265 | 46,585 | 32,320 | 3,027 | 4,288 | 3,488 | 800 | 125 |
| 2025-Q3 | 2025-10-23 | 11,141 | 46,553 | 35,412 | 2,992 | 2,546 | 2,425 | 121 | 23 |
| 2025-Q2 | 2025-07-24 | 9,643 | 50,757 | 41,114 | 3,013 | 2,050 | 3,550 | -1,500 | 21 |
| 2025-Q1 | 2025-01-30 | 8,947 | 50,151 | 41,204 | 2,674 | 813 | 5,183 | -4,370 | 17 |
| 2024-Q4 | 2025-01-30 | 8,249 | 50,011 | 41,762 | 2,647 | 3,165 | 5,834 | -2,669 | 17 |
| 2024-Q3 | 2024-10-31 | 8,785 | 50,236 | 41,451 | 3,612 | 4,054 | 6,458 | -2,404 | 15 |
| 2024-Q2 | 2024-08-01 | 11,287 | 53,029 | 41,742 | 2,569 | 2,292 | 5,682 | -3,390 | 13 |
| 2024-Q1 | 2024-04-26 | 6,923 | 52,450 | 45,527 | 2,551 | -1,223 | 5,970 | -7,193 | 12 |
| 2023-Q4 | 2024-01-25 | 7,079 | 49,266 | 42,187 | 2,513 | 4,624 | 6,696 | -2,072 | 117 |
| 2023-Q3 | 2023-10-26 | 7,621 | 48,879 | 41,258 | 2,447 | 5,824 | 5,753 | 71 | 7 |
| 2023-Q2 | 2023-07-27 | 8,349 | 49,046 | 40,697 | 2,276 | 2,808 | 5,888 | -3,080 | 5 |
| 2023-Q1 | 2023-04-27 | 8,232 | 50,273 | 42,041 | 2,366 | -1,785 | 7,413 | -9,198 | 3 |
Debt = long-term + current · Net debt = debt − cash · FCF = OCF − capex.
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Revenue by Type (as of 2026-Q2 · USDm · 4/7)#
Revenue split by segment or product type, exactly as the company itself reports it. The basis is stated next to each value (3, 6 or 12 months); segment totals can deviate from group revenue (reconciliation/consolidation items). If the company changes its segment structure, older structures are kept in the expandable part. Rows in grey are no longer reported separately by the company; they show the last available figures and are never extrapolated.
| Segment | Since | Period | Basis | Revenue | Growth | Margin | Source |
|---|---|---|---|---|---|---|---|
| CCPG | 2025-Q2 | 2026-Q2 | 6M | 16,604 | – | 29% | 30 |
| All Other | 2024-Q1 | 2026-Q1 | 3M | 628 | – | 16% | 28 |
| Client Computing Group (CCG) | 2022-Q4 | 2026-Q1 | 3M | 7,727 | – | 33% | 28 |
| DCAI | 2022-Q4 | 2026-Q1 | 3M | 5,052 | – | 31% | 28 |
| Altera | 2024-Q2 | 2024-Q3 | 3M | 412 | 44% | – | 15 |
| Network and Edge (NEX) | 2022-Q4 | 2024-Q4 | 3M | 5,800 | 1% | – | 17 |
| Mobileye | 2022-Q4 | 2024-Q3 | 3M | 485 | 8% | – | 15 |
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Products & M&A (42/77 active+recent)#
Product announcements from the reports; market launches, approvals, partnerships; with first mention (date) and source. “Active/current” means: still mentioned in the most recent reports; what the company no longer mentions moves to the expandable part but is never deleted. Rows in grey are discontinued products.
| Product/Line | Since | Status | Source |
|---|---|---|---|
| €5 billion manufacturing capacity expansion | 2026-06 | Launched | 29 |
| OpenVINO Physical AI framework | 2026-06 | Launched | 29 |
| Intel Arc G-Series processors | 2026-06 | Launched | 29 |
| Intel 18A-P risk production | 2026-06 | Launched | 29 |
| Intel 18A-P derivative node risk production | 2026-06 | Launched | 30 |
| Intel 14A node development commitment | 2026-06 | Launched | 30 |
| Fortinet Security Processor 6 collaboration | 2026-06 | Launched | 29 |
| Ethernet E835 portfolio | 2026-06 | Launched | 29 |
| Intel joined Terafab project as strategic partner | 2026-03 | Launched | 27 |
| Intel and SambaNova announced blueprint for heterogeneous hardware solution | 2026-03 | Launched | 27 |
| Intel and Google multiyear collaboration for Intel Xeon deployment across Google's workload-optimized instances | 2026-03 | Launched | 27 |
| Intel Xeon 6 selected as host CPU for NVIDIA's DGX Rubin NVL8 systems | 2026-03 | Launched | 27 |
| Intel Foundry expanded assembly and test capacity in Penang, Malaysia | 2026-03 | Launched | 27 |
| Intel 18A-P derivative node | 2026-03 | Launched | 28 |
| Intel 18A process node | 2026-03 | Launched | 28 |
| Intel 14A next generation node | 2026-03 | Launched | 28 |
| Intel/Google custom ASIC IPU co-development | 2026-03 | Launched | 27 |
| Intel 18A process node manufacturing | 2026 | Launched | 30 |
| Panther Lake launch on Intel 18A | 2025-12 | Launched | 17 |
| Intel 18A process ramp | 2025-12 | Launched | 19 |
| Intel 18A first product launch | 2025-12 | Launched | 24 |
| Additional Panther Lake SKUs (4x) | 2025-12 | Launched | 22 |
| Crescent Island inference-optimized GPU | 2025-09 | Launched | 23 |
| Intel Xeon 6 series CPUs (three new additions) | 2025-06 | Launched | 22 |
| Intel 18A-P derivative node development | 2025-06 | Launched | 21 |
| Intel 18A production wafers in Arizona | 2025-06 | Launched | 22 |
| Intel 18A production wafer start volumes | 2025-06 | Launched | 13 |
| Intel Foundry Direct Connect Event | 2025-04 | Launched | 17 |
| Intel Xeon 6 Performance-cores for data center | 2025-02 | Launched | 19 |
| Intel Xeon 6 for network and edge | 2025-02 | Launched | 19 |
| Intel 18A process node (Panther Lake and Clearwater Forest) | 2025-01 | Launched | 15 |
| Dell PowerEdge XE7740 server collaboration | 2025-01 | Launched | 17 |
| Programmable Solutions Group (PSG) separation and IPO | 2025 | Launched | 7 |
| Panther Lake (Intel 18A client microprocessor) launch | 2025 | Launched | 13 |
| Intel 18A-P process technology | 2025 | Launched | 26 |
| Intel 18A process technology | 2025 | Launched | 26 |
| Intel 18A high-volume manufacturing (2x) | 2025 | Launched | 29 |
| Intel 18A first SKU release | 2025 | Planned | 21 |
| Intel 14A process technology | 2025 | Launched | 26 |
| AI-optimized Ethernet solutions and foundry chiplets launch | 2025 | Launched | 13 |
| Gaudi AI accelerators (3x) | 2024-09 | Launched | 26 |
| Sierra Forest processor (4x) | 2024-06 | Launched | 23 |
| Intel Foundry independent subsidiary establishment | 2024-12 | Launched | 15 |
| Intel 18A manufacturing-ready completion | 2024-12 | Launched | 13 |
| Intel 16-based design full tape-out for external customer | 2024-12 | Launched | 17 |
| x86 Ecosystem Advisory Group | 2024-10 | Launched | 15 |
| KDDI design win with vRAN 3.0 solution | 2024-10 | Launched | 15 |
| Lunar Lake powering over 80 new Copilot+ PCs across 20+ OEMs | 2024-09 | Launched | 13 |
| Intel and AWS multi-year partnership expansion | 2024-09 | Launched | 15 |
| Intel Xeon 6 with P-cores (Granite Rapids) shipping | 2024-09 | Launched | 13 |
| IBM and Intel Gaudi 3 collaboration on IBM Cloud | 2024-09 | Launched | 15 |
| Lunar Lake AI CPU production release and shipments | 2024-07 | Launched | 13 |
| Intel PowerVia backside power for Intel 20A | 2024-06 | Launched | 5 |
| Intel 4 process technology ramp | 2024-06 | Launched | 16 |
| Dividend declaration | 2024-04 | Launched | 12 |
| Astera Labs, Inc shares becoming marketable | 2024-03 | Launched | 12 |
| R2 Semiconductor injunction and recall order | 2024-02 | Stable | 26 |
| Volume manufacturing at Intel Ireland | 2024 | Launched | 17 |
| Intel 18A production ramp at Fab 52 Arizona | 2024 | Launched | 17 |
| Granite Rapids processor | 2024 | Launched | 3 |
| Meteor Lake product on Intel 4 | 2023-12 | Launched | 3 |
| High-NA EUV Tool Installation | 2023-12 | Launched | 7 |
| AI-enhanced software-defined vehicle SoCs | 2023-12 | Launched | 9 |
| Intel 4 Node | 2023-09 | Launched | 7 |
| Intel 18A PDK 0.9 Release | 2023-09 | Launched | 7 |
| Fab 34 Leixlip | 2023-09 | Launched | 7 |
| RAMP-C program semiconductor development on Intel 18A | 2023-06 | Launched | 5 |
| Mobileye SuperVision design win with Porsche | 2023-06 | Launched | 5 |
| Multi-chip package prototypes delivered to BAE Systems under DOD SHIP program | 2023-03 | Launched | 3 |
| Intel 7 process | 2023-03 | Launched | 3 |
| Intel 3, Intel 20A, and Intel 18A process nodes | 2023-03 | Launched | 3 |
| Xeon 6+ processor (10x) | 2023 | Launched | 9 |
| Intel Trust Authority | 2023 | Launched | 10 |
| Intel Granulate | 2023 | Launched | 10 |
| Intel Developer Cloud | 2023 | Launched | 10 |
| Intel Core Ultra processors (22×) | 2023 | Launched | 9 |
| Introduction of Intel 4 process node naming structure | 2021-07 | Launched | 12 |
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M&A (40)#
All recorded acquisitions (purchases) and divestitures/exits with date, short description and source; deliberately including smaller transactions that summaries often miss. Purchase prices appear only where the company itself has disclosed them. Rows in grey are cancelled transactions; the cancellation date is shown in the row.
Acquisitions · 16Divestitures/exits · 16older: 8 (in the table)
Acquisitions
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| Ireland SCIP Apollo minority interest repurchase (2×) | 2026-04 | Completed | 30 |
| Intel repurchased 49% minority equity interest in joint investment entity related to Fab 34 in Ireland | 2026-03 | Completed | 27 |
| NVIDIA common stock investment | 2026-01 | Completed | 25 |
| Mentee Robotics acquisition (3×) | 2026-01 | Completed | 30 |
| SoftBank Group Private Placement | 2025-09 | Completed | 24 |
| NVIDIA collaboration for custom data center and PC products | 2025-09 | Completed | 23 |
| NVIDIA Private Placement | 2025-09 | Completed | 24 |
| U.S. Government Equity and Warrant Issuance | 2025-08 | Completed | 24 |
| Dividend Suspension | 2024-12 | Completed | 16 |
| CHIPS Act direct funding agreement with US Department of Commerce | 2024-11 | Announced | 18 |
| Ireland SCIP transaction | 2024-06 | Completed | 16 |
| Silicon Mobility acquisition | 2024 | Completed | 9 |
| Apollo Fab 34 Ireland SCIP joint investment (3×) | 2024 | Completed | 13 |
| Intel and UMC collaboration on 12-nanometer process platform | 2023-12 | Completed | 9 |
| IFS and Arm multigeneration agreement | 2023-03 | Announced | 3 |
| Joint investment with Brookfield for Arizona campus manufacturing expansion | 2022 | Completed | 18 |
| Brookfield Arizona SCIP joint investment | 2022 | Completed | 26 |
Divestitures / exits
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| Mobileye stake sale | 2025-09 | Divested | 23 |
| Altera stake sale | 2025-09 | Divested | 25 |
| Altera majority ownership stake sale | 2025-09 | Divested | 23 |
| Altera divestiture (51% stake sale) | 2025-09 | Divested | 30 |
| Altera divestiture | 2025-09 | Divested | 28 |
| Altera deconsolidation following sale of 51% of common stock | 2025-09 | Divested | 27 |
| Altera 51% Divestiture | 2025-09 | Divested | 24 |
| Mobileye Share Offering (2x) | 2025-07 | Divested | 24 |
| Mobileye Class A shares sale | 2025-07 | Divested | 21 |
| Altera sale to Silver Lake Partners (3x) | 2025-04 | Divested | 21 |
| Costa Rica assembly and test facility consolidation | 2025 | Divested | 26 |
| Exit of legacy businesses in CCG | 2024-06 | Divested | 14 |
| Delayed manufacturing expansion projects | 2024 | Divested | 18 |
| IMS Nanofabrication 10% Stake Sale to TSMC (2x) | 2023-06 | Divested | 7 |
| Sale of 20% minority stake in IMS business to Bain | 2023 | Divested | 8 |
| Mobileye Class A common stock secondary offering | 2023 | Divested | 8 |
| McAfee equity sale to investor group | 2022-03 | Divested | 8 |
| Winddown of Intel Optane | 2022 | Divested | 18 |
| NAND memory business divestiture (4x) | 2022 | Divested | 24 |
| McAfee consumer business sale | 2022 | Divested | 10 |
| Sale of NAND memory business to SK Hynix (2x) | 2020 | Divested | 19 |
| Exit from 5G smartphone modem business | 2019 | Divested | 18 |
Terminated / withdrawn
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| Tower Semiconductor acquisition | 2023 | Terminated | 10 |
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Reported KPIs (as disclosed) (225)#
Figures the company discloses itself in addition to the standard financials; order intake, recurring revenue, user or unit counts, adjusted measures. These “story KPIs” usually slip through standard databases; here they are collected as reported, with no calculation of our own. Important: the definition comes from the company itself and can differ from firm to firm; period and source are stated next to every value.
Company-specific KPIs verbatim from the filings (English, as disclosed; not normalised). Balance-sheet and boilerplate items filtered.
| Date | Period | KPI | Value / change | Source |
|---|---|---|---|---|
| 2026-07-24 | 2026-Q2 | VLSI litigation accrued charge | $1.0 billion | 30 |
| 2026-07-24 | 2026-Q2 | Total debt | $50,537 | 30 |
| 2026-07-24 | 2026-Q2 | Total cash and short-term investments | $29,727 | 30 |
| 2026-07-24 | 2026-Q2 | Short-term investments | $16,853 | 30 |
| 2026-07-24 | 2026-Q2 | Ireland SCIP repurchase cash consideration | $14.2 billion | 30 |
| 2026-07-24 | 2026-Q2 | Escrowed Shares fair value derivative liability | $15.6 billion | 30 |
| 2026-07-24 | 2026-Q2 | EC-imposed fine accrued | $308 million | 30 |
| 2026-07-24 | 2026-Q2 | Cash and cash equivalents | $12,874 | 30 |
| 2026-07-23 | 2026-Q2 | Cash from operations (Q2) | $7.0 billion | 29 |
| 2026-07-23 | 2026-Q2 | Adjusted free cash flow (Q2) | $(8,419) | 29 |
| 2026-04-24 | 2026-Q1 | VLSI litigation accrual | $1.0 billion | 28 |
| 2026-04-24 | 2026-Q1 | Term loan facility | $6.5 billion | 28 |
| 2026-04-24 | 2026-Q1 | Mobileye revenue | $558 | 28 |
| 2026-04-24 | 2026-Q1 | Mentee Robotics cash consideration | $596 | 28 |
| 2026-04-24 | 2026-Q1 | Ireland SCIP repurchase consideration | $14.2 billion | 28 |
| 2026-04-24 | 2026-Q1 | EC-imposed fine accrual | $310 million | 28 |
| 2026-04-24 | 2026-Q1 | Contractually enforceable deposits | $1.7 billion | 28 |
| 2026-04-24 | 2026-Q1 | Client revenue | $6.6 billion | 28 |
| 2026-04-24 | 2026-Q1 | Altera revenue | $139 | 28 |
| 2026-04-23 | 2026-Q1 | Operating cash flow | $1.1 billion | 27 |
| 2026-04-23 | 2026-Q1 | Cash and cash equivalents | $17,247 | 27 |
| 2026-01-23 | FY2025 | Share-based compensation 2025 | 2.4 | 26 |
| 2026-01-23 | FY2025 | SCIP Ireland penalty charge Q4 2024 | 755 | 26 |
| 2026-01-23 | FY2025 | Remaining unfunded contribution Arizona SCIP | 5.2 | 26 |
| 2026-01-23 | FY2025 | R&D expenses 2025 | 13.8 (USD in billions) | 26 |
| 2026-01-23 | FY2025 | R&D expenses 2024 | 16.5 (USD in billions) | 26 |
| 2026-01-23 | FY2025 | R&D expenses 2023 | 16.0 (USD in billions) | 26 |
| 2026-01-23 | FY2025 | Property, plant and equipment impairment charges 2025 | 494 | 26 |
| 2026-01-23 | FY2025 | Property, plant and equipment impairment 2024 | 2.3 | 26 |
| 2026-01-23 | FY2025 | Present value of lease payments | 473 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | Operating leased assets | 421 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | Operating lease payments | 422 | 26 |
| 2026-01-23 | FY2025 | Operating lease expense 2025 | 212 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | Non-marketable equity investments | 8.0 billion | 26 |
| 2026-01-23 | FY2025 | Marketable equity investments | 484 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | Investment hedges fair value change | less than 100 | 26 |
| 2026-01-23 | FY2025 | International revenue percentage | 70% | 26 |
| 2026-01-23 | FY2025 | Interest rate sensitivity impact on annual interest expense prior year | 120 | 26 |
| 2026-01-23 | FY2025 | Interest rate sensitivity impact on annual interest expense | 97 | 26 |
| 2026-01-23 | FY2025 | Fixed income investments | 212 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | Finance lease payments | 133 | 26 |
| 2026-01-23 | FY2025 | Finance lease assets | 453 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | Equity securities | 259 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | Equity market decline sensitivity 45% | 218 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | Currency exchange risk impact prior year | 54 | 26 |
| 2026-01-23 | FY2025 | Currency exchange risk impact less than | 38 | 26 |
| 2026-01-23 | FY2025 | Commitments for capital expenditures | 12.8 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | China revenue percentage | 24% | 26 |
| 2026-01-23 | FY2025 | Cash and cash equivalents | 15 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | Assets measured by fair value hierarchy | 471 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | Assets measured at net asset value | 1,712 (USD in millions) | 26 |
| 2026-01-23 | FY2025 | Accrued liabilities for legal proceedings | 1.0 | 26 |
| 2026-01-23 | FY2025 | Accelerated depreciation charges 2025 | 456 | 26 |
| 2026-01-23 | FY2025 | Accelerated depreciation 2024 | 992 | 26 |
| 2026-01-22 | 2025-Q4 | Gross margin (Non-GAAP) | 37.9% | 25 |
| 2026-01-22 | 2025-Q4 | Gross margin (GAAP) | 36.1% | 25 |
| 2026-01-22 | 2025-Q4 | Cash from operations | $4,288 | 25 |
| 2025-07-24 | 2025-Q2 | Total debt | $50,757 | 21 |
| 2025-07-24 | 2025-Q2 | Total cash and short-term investments | $21,206 | 21 |
| 2025-07-24 | 2025-Q2 | Short-term investments | $11,563 | 21 |
| 2025-07-24 | 2025-Q2 | Non-GAAP operating expenses | 17 billion (2025 target); 16 billion (2026 target) | 22 |
| 2025-07-24 | 2025-Q2 | Gross capital expenditures | 18 billion | 22 |
| 2025-07-24 | 2025-Q2 | Cash from operations (Q2 2025) | 2.1 billion | 22 |
| 2025-07-24 | 2025-Q2 | Cash and cash equivalents | $9,643 | 21 |
| 2025-07-24 | 2025-Q2 | Adjusted free cash flow (six months ended Jun 28, 2025) | (1.050) billion | 22 |
| 2025-04-24 | 2025-Q1 | Non-GAAP operating expenses 2026 | approximately $16 billion | 19 |
| 2025-04-24 | 2025-Q1 | Non-GAAP operating expenses 2025 | approximately $17 billion | 19 |
| 2025-04-24 | 2025-Q1 | Net capital expenditures 2025 | approximately $8 billion to $11 billion | 19 |
| 2025-04-24 | 2025-Q1 | Gross capital expenditures 2025 | $18 billion | 19 |
| 2025-04-24 | 2025-Q1 | Adjusted free cash flow Q1 2025 | $(3,680) | 19 |
| 2025-04-24 | 2025-Q1 | Adjusted free cash flow Q1 2024 | $(6,178) | 19 |
| 2025-01-31 | FY2024 | Owned facilities | 63 | 18 |
| 2025-01-31 | FY2024 | Non-marketable equity securities carrying amount | $4.5 billion | 18 |
| 2025-01-31 | FY2024 | Marketable equity securities fair value | $0.8 billion | 18 |
| 2025-01-31 | FY2024 | Leased facilities | 7 | 18 |
| 2025-01-31 | FY2024 | Credit facilities | $15.0 billion | 18 |
| 2025-01-31 | FY2024 | Commercial paper program | $10.0 billion | 18 |
| 2025-01-31 | FY2024 | Three largest customers revenue 2024 | 45 (USD %) | 18 |
| 2025-01-31 | FY2024 | Three largest customers revenue 2023 | 40 (USD %) | 18 |
| 2025-01-31 | FY2024 | Three largest customers revenue 2022 | 42 (USD %) | 18 |
| 2025-01-31 | FY2024 | R&D expenses 2024 | 16.5 billion | 18 |
| 2025-01-31 | FY2024 | R&D expenses 2023 | 16.0 billion | 18 |
| 2025-01-31 | FY2024 | R&D expenses 2022 | 17.5 billion | 18 |
| 2025-01-31 | FY2024 | Ireland SCIP penalty charge Q4 2024 | 755 million | 18 |
| 2025-01-31 | FY2024 | International revenue percentage | 76 | 18 |
| 2025-01-31 | FY2024 | China revenue contribution | 29 (USD %) | 18 |
| 2025-01-30 | 2024-Q4 | Operating Cash Flow Q4 2024 | $3.2 billion | 17 |
| 2025-01-30 | 2024-Q4 | Operating Cash Flow Full Year 2024 | $8.3 billion | 17 |
| 2025-01-30 | 2024-Q4 | ISVs Optimization Partners | more than 200 | 17 |
| 2025-01-30 | 2024-Q4 | Features Optimized | more than 400 | 17 |
| 2025-01-30 | 2024-Q4 | Dividends Paid 2024 | $1.6 billion | 17 |
| 2025-01-30 | 2024-Q4 | CHIPS Act Received Q4 2024 | $1.1 billion | 17 |
| 2025-01-30 | 2024-Q4 | CHIPS Act Received January 2025 | $1.1 billion | 17 |
| 2025-01-30 | 2024-Q4 | CHIPS Act Funding | up to $7.86 billion | 17 |
| 2025-01-30 | 2024-Q4 | AI PCs Expected by End of 2025 | more than 100 million | 17 |
| 2024-11-01 | 2024-Q3 | Total debt | 50,236 (USD in millions) | 16 |
| 2024-11-01 | 2024-Q3 | Total cash and short-term investments | 24,086 (USD in millions) | 16 |
| 2024-11-01 | 2024-Q3 | Short-term investments | 15,301 (USD in millions) | 16 |
| 2024-11-01 | 2024-Q3 | Cash and cash equivalents | 8,785 (USD in millions) | 16 |
| 2024-10-31 | 2024-Q3 | Net cash used for investing activities (9M 2024) | (14,492) | 15 |
| 2024-10-31 | 2024-Q3 | Net cash provided by operating activities (9M 2024) | 5,123 (USD in millions) | 15 |
| 2024-10-31 | 2024-Q3 | Net cash provided by financing activities (9M 2024) | 11,075 (USD in millions) | 15 |
| 2024-10-31 | 2024-Q3 | Dividend payments (Q3 2024) | $0.5 billion | 15 |
| 2024-10-31 | 2024-Q3 | Cash from operations (Q3 2024) | $4.1 billion | 15 |
| 2024-10-31 | 2024-Q3 | Adjusted free cash flow (Q3 2024) | $(2,702) | 15 |
| 2024-10-31 | 2024-Q3 | Adjusted free cash flow (Q3 2023) | $943 | 15 |
| 2024-08-02 | 2024-Q2 | Adjusted free cash flow | $1,977 | 14 |
| 2024-08-01 | 2024-Q2 | Total stockholders' equity | 120,434 (USD In Millions) | 13 |
| 2024-08-01 | 2024-Q2 | Total debt | 53,029 (USD In Millions) | 13 |
| 2024-08-01 | 2024-Q2 | Short-term investments | 17,986 (USD In Millions) | 13 |
| 2024-08-01 | 2024-Q2 | Property, plant, and equipment, net | 103,398 | 13 |
| 2024-08-01 | 2024-Q2 | Net cash provided by operating activities (6 months) | 1,069 (USD In Millions) | 13 |
| 2024-08-01 | 2024-Q2 | Intel Xeon processors in data centers | more than 130 million | 13 |
| 2024-08-01 | 2024-Q2 | Gross Capex (6 months) | 11,652 (USD In Millions) | 13 |
| 2024-08-01 | 2024-Q2 | Cash and cash equivalents | 11,287 (USD In Millions) | 13 |
| 2024-08-01 | 2024-Q2 | AI PCs on track to ship by year-end | more than 40 million | 13 |
| 2024-04-26 | 2024-Q1 | Total debt | $52,450 | 12 |
| 2024-04-26 | 2024-Q1 | Total cash and short-term investments | $21,311 | 12 |
| 2024-01-26 | FY2023 | VLSI litigation benefit 2023 | $1.2 billion | 10 |
| 2024-01-26 | FY2023 | US total facilities | 40 | 10 |
| 2024-01-26 | FY2023 | US owned facilities | 38 | 10 |
| 2024-01-26 | FY2023 | US leased facilities | 2 | 10 |
| 2024-01-26 | FY2023 | Tower acquisition termination fee | $353 million | 10 |
| 2024-01-26 | FY2023 | Total facilities | 73 | 10 |
| 2024-01-26 | FY2023 | Share repurchase remaining available | $7.2 billion | 10 |
| 2024-01-26 | FY2023 | Share repurchase authorization | $110.0 billion | 10 |
| 2024-01-26 | FY2023 | sale of equity investments 2023 | $273 million | 10 |
| 2024-01-26 | FY2023 | sale of equity investments 2022 | $4,946 million | 10 |
| 2024-01-26 | FY2023 | sale of equity investments 2021 | $2,263 million | 10 |
| 2024-01-26 | FY2023 | registered common stock holders | approximately 97,000 | 10 |
| 2024-01-26 | FY2023 | portfolio companies initial fair value 2023 | $243 million | 10 |
| 2024-01-26 | FY2023 | portfolio companies initial fair value 2022 | $278 million | 10 |
| 2024-01-26 | FY2023 | portfolio companies initial fair value 2021 | $447 million | 10 |
| 2024-01-26 | FY2023 | Owned facilities | 66 | 10 |
| 2024-01-26 | FY2023 | other countries total facilities | 33 | 10 |
| 2024-01-26 | FY2023 | other countries owned facilities | 28 | 10 |
| 2024-01-26 | FY2023 | other countries leased facilities | 5 | 10 |
| 2024-01-26 | FY2023 | observable price adjustments 2023 | $17 million | 10 |
| 2024-01-26 | FY2023 | observable price adjustments 2022 | $299 million | 10 |
| 2024-01-26 | FY2023 | observable price adjustments 2021 | $750 million | 10 |
| 2024-01-26 | FY2023 | non-marketable equity securities | $4.6 billion | 10 |
| 2024-01-26 | FY2023 | NAND memory business divestiture gain 2022 | $1.0 billion | 10 |
| 2024-01-26 | FY2023 | McAfee special dividend 2021 | $1.1 billion | 10 |
| 2024-01-26 | FY2023 | McAfee partial sale 2021 | $228 million | 10 |
| 2024-01-26 | FY2023 | McAfee gain 2022 | $4.6 billion | 10 |
| 2024-01-26 | FY2023 | McAfee dividends 2021 | $1.3 billion | 10 |
| 2024-01-26 | FY2023 | McAfee cash received 2022 | $4.6 billion | 10 |
| 2024-01-26 | FY2023 | marketable equity securities | $1.2 billion | 10 |
| 2024-01-26 | FY2023 | mark to market adjustments 2023 | $(36) million | 10 |
| 2024-01-26 | FY2023 | mark to market adjustments 2022 | $(787) million | 10 |
| 2024-01-26 | FY2023 | mark to market adjustments 2021 | $(130) million | 10 |
| 2024-01-26 | FY2023 | Leased facilities | 7 | 10 |
| 2024-01-26 | FY2023 | interest rate portfolio impact | less than $100 million | 10 |
| 2024-01-26 | FY2023 | interest and other net 2023 | $629 million | 10 |
| 2024-01-26 | FY2023 | interest and other net 2022 | $1,166 million | 10 |
| 2024-01-26 | FY2023 | interest and other net 2021 | $(482) million | 10 |
| 2024-01-26 | FY2023 | impairment charges 2023 | $(214) million | 10 |
| 2024-01-26 | FY2023 | impairment charges 2022 | $(190) million | 10 |
| 2024-01-26 | FY2023 | impairment charges 2021 | $(154) million | 10 |
| 2024-01-26 | FY2023 | gains losses on equity investments net 2023 | $40 million | 10 |
| 2024-01-26 | FY2023 | gains losses on equity investments net 2022 | $4,268 million | 10 |
| 2024-01-26 | FY2023 | gains losses on equity investments net 2021 | $2,729 million | 10 |
| 2024-01-26 | FY2023 | equity securities decline 35 percent | $418 million | 10 |
| 2024-01-26 | FY2023 | equity securities decline 2022 | $670 million | 10 |
| 2024-01-26 | FY2023 | EC imposed fine 2023 | $401 million | 10 |
| 2024-01-26 | FY2023 | currency adverse impact 2023 | less than $53 million | 10 |
| 2024-01-26 | FY2023 | currency adverse impact 2022 | less than $64 million | 10 |
| 2024-01-26 | FY2023 | Beijing Unisoc observable price adjustments 2021 | $471 million | 10 |
| 2024-01-26 | FY2023 | Beijing Unisoc Investment | $1.1 billion | 10 |
| 2024-01-26 | FY2023 | Annual interest expense increase 2023 | approximately $120 million | 10 |
| 2024-01-26 | FY2023 | Annual interest expense increase 2022 | approximately $120 million | 10 |
| 2024-01-25 | 2023-Q4 | OpenVINO adoption growth | 60% sequentially | 9 |
| 2024-01-25 | 2023-Q4 | Network and Edge revenue YoY | down 24% | 9 |
| 2024-01-25 | 2023-Q4 | Network and Edge revenue | $1.5 billion | 9 |
| 2024-01-25 | 2023-Q4 | Mobileye revenue YoY | up 13% | 9 |
| 2024-01-25 | 2023-Q4 | Mobileye revenue | $637 million | 9 |
| 2024-01-25 | 2023-Q4 | Intel Foundry Services revenue YoY | up 63% | 9 |
| 2024-01-25 | 2023-Q4 | Intel Foundry Services revenue | $291 million | 9 |
| 2024-01-25 | 2023-Q4 | Dividends paid full year | $3.1 billion | 9 |
| 2024-01-25 | 2023-Q4 | Dividends paid Q4 | $0.5 billion | 9 |
| 2024-01-25 | 2023-Q4 | Data Center and AI revenue YoY | down 10% | 9 |
| 2024-01-25 | 2023-Q4 | Data Center and AI revenue | $4.0 billion | 9 |
| 2024-01-25 | 2023-Q4 | Client Computing Group revenue YoY | up 33% | 9 |
| 2024-01-25 | 2023-Q4 | Client Computing Group revenue | $8.8 billion | 9 |
| 2024-01-25 | 2023-Q4 | Cash from operations full year | $11.5 billion | 9 |
| 2024-01-25 | 2023-Q4 | Cash from operations Q4 | $4.6 billion | 9 |
| 2023-10-27 | 2023-Q3 | Total Debt | $48,879 million | 8 |
| 2023-10-27 | 2023-Q3 | Total Cash and Investments | $25,088 million | 8 |
| 2023-10-27 | 2023-Q3 | NEX Revenue | $1.5 billion | 8 |
| 2023-10-27 | 2023-Q3 | NEX Operating Income | $17 million | 8 |
| 2023-10-27 | 2023-Q3 | Mobileye Revenue | $530 million | 8 |
| 2023-10-27 | 2023-Q3 | Mobileye Operating Income | $170 million | 8 |
| 2023-10-27 | 2023-Q3 | IFS Revenue | $311 million | 8 |
| 2023-10-27 | 2023-Q3 | IFS Operating Loss | $(86) million | 8 |
| 2023-10-27 | 2023-Q3 | DCAI Revenue | $3.8 billion | 8 |
| 2023-10-27 | 2023-Q3 | DCAI Operating Income | $71 million | 8 |
| 2023-10-27 | 2023-Q3 | CCG Revenue | $9.9 billion | 8 |
| 2023-10-27 | 2023-Q3 | CCG Operating Income | $2,073 million | 8 |
| 2023-10-26 | 2023-Q3 | Operating Cash Flow (Q3) | $5.8 billion | 7 |
| 2023-10-26 | 2023-Q3 | Operating Cash Flow (9M) | $6,847 | 7 |
| 2023-10-26 | 2023-Q3 | Mobileye Revenue Growth | up 18% | 7 |
| 2023-10-26 | 2023-Q3 | Intel Foundry Services Revenue Growth | up 299% | 7 |
| 2023-10-26 | 2023-Q3 | Dividends Paid (Q3) | $0.5 billion | 7 |
| 2023-10-26 | 2023-Q3 | Capital Expenditures (9M) | $(19,054) | 7 |
| 2023-10-26 | 2023-Q3 | Adjusted Free Cash Flow (Q3) | $943 | 7 |
| 2023-07-28 | 2023-Q2 | Total debt | 49,046 (USD in millions) | 6 |
| 2023-07-28 | 2023-Q2 | Total cash and investments | 24,321 (USD in millions) | 6 |
| 2023-07-28 | 2023-Q2 | Short-term investments | 15,908 (USD in millions) | 6 |
| 2023-07-28 | 2023-Q2 | Cash and cash equivalents | 8,349 (USD in millions) | 6 |
| 2023-07-27 | 2023-Q2 | Total debt | $49,046 | 5 |
| 2023-07-27 | 2023-Q2 | Short-term investments | $15,908 | 5 |
| 2023-07-27 | 2023-Q2 | Property, plant and equipment, net | $90,945 | 5 |
| 2023-07-27 | 2023-Q2 | Cash and cash equivalents | $8,349 | 5 |
| 2023-04-28 | 2023-Q1 | Total Debt | $50,273 million | 4 |
| 2023-04-28 | 2023-Q1 | Total Cash and Investments | $27,598 million | 4 |
| 2023-04-28 | 2023-Q1 | NEX Revenue | $1.5 billion | 4 |
| 2023-04-28 | 2023-Q1 | NEX Operating Loss | $(300) million | 4 |
| 2023-04-28 | 2023-Q1 | Mobileye Revenue | $458 million | 4 |
| 2023-04-28 | 2023-Q1 | Mobileye Operating Income | $123 million | 4 |
| 2023-04-28 | 2023-Q1 | IFS Revenue | $118 million | 4 |
| 2023-04-28 | 2023-Q1 | IFS Operating Loss | $(140) million | 4 |
| 2023-04-28 | 2023-Q1 | DCAI Revenue | $3.7 billion | 4 |
| 2023-04-28 | 2023-Q1 | DCAI Operating Loss | $(518) million | 4 |
| 2023-04-28 | 2023-Q1 | CCG Revenue | $4.8 billion | 4 |
| 2023-04-28 | 2023-Q1 | CCG Operating Income | $520 million | 4 |
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Guidance Tracking (latest per metric/period · 30/64)#
All management forecasts (guidance) and their later outcome. Types: fiscal-year targets as well as quarterly/half-year targets; per metric and period the most recent statement applies, older versions can be expanded. The status is checked automatically against the actuals reported later: open (period still running), met, beaten, missed. For ranges (“X to Y”) reaching the range counts. Logged neutrally, no estimate of our own, no assessment.
Actuals: revenue in $m · EPS in $ per share
| For period | Guided on | Metric | Guided | Actual | Verdict | Direction | Source |
|---|---|---|---|---|---|---|---|
| 2026-Q3 | 2026-07-23 | Revenue | 15,800–16,800 | – | pending | initiated | 29 |
| 2026-Q3 | 2026-07-23 | Gross margin (GAAP) | 41% | – | pending | initiated | 29 |
| 2026-Q3 | 2026-07-23 | EPS (GAAP) | 0.31 | – | pending | initiated | 29 |
| 2026-Q3 | 2026-07-23 | EPS (non-GAAP) | 0.38 | – | pending | initiated | 29 |
| 2026-Q2 | 2026-04-23 | Revenue | 13,800–14,800 | 16,128 | beat | initiated | 27 |
| 2026-Q2 | 2026-04-23 | Gross margin (GAAP) | 37.5% | – | – | initiated | 27 |
| 2026-Q2 | 2026-04-23 | Gross margin (non-GAAP) | 39% | – | – | initiated | 27 |
| 2026-Q2 | 2026-04-23 | EPS (GAAP) | 0.08 | -2.16 | – | initiated | 27 |
| 2026-Q2 | 2026-04-23 | EPS (non-GAAP) | 0.2 | 0.42 | beat | initiated | 27 |
| 2026-Q1 | 2026-01-22 | Revenue | 11,700–12,700 | 13,577 | beat | initiated | 25 |
| 2026-Q1 | 2026-01-22 | Gross margin (GAAP) | 32.3% | – | – | initiated | 25 |
| 2026-Q1 | 2026-01-22 | Gross margin (non-GAAP) | 34.5% | – | – | initiated | 25 |
| 2026-Q1 | 2026-01-22 | EPS (GAAP) | -0.21 | -0.73 | miss | initiated | 25 |
| 2026-Q1 | 2026-01-22 | EPS (non-GAAP) | 0 | 0.29 | beat | initiated | 25 |
| 2025-Q4 | 2025-10-23 | Revenue | 12,800–13,800 | 13,674 | in line | confirmed | 23 |
| 2025-Q4 | 2025-10-23 | EPS (GAAP) | -0.14 | -0.07 | beat | initiated | 23 |
| 2025-Q4 | 2025-10-23 | EPS (non-GAAP) | 0.08 | 0.15 | beat | initiated | 23 |
| 2025-Q3 | 2025-07-24 | Revenue | 12,600–13,600 | 13,653 | beat | initiated | 22 |
| 2025-Q3 | 2025-07-24 | Gross margin (GAAP) | 34.1% | – | – | initiated | 22 |
| 2025-Q3 | 2025-07-24 | EPS (GAAP) | -0.24 | 0.9 | beat | initiated | 22 |
| 2025-Q2 | 2025-04-24 | Revenue | 11,200–12,400 | 12,859 | beat | initiated | 19 |
| 2025-Q2 | 2025-04-24 | Gross margin (GAAP) | 34.3% | – | – | initiated | 19 |
| 2025-Q2 | 2025-04-24 | Gross margin (non-GAAP) | 36.5% | – | – | initiated | 19 |
| 2025-Q2 | 2025-04-24 | EPS (GAAP) | -0.32 | -0.67 | miss | initiated | 19 |
| 2025-Q2 | 2025-04-24 | EPS (non-GAAP) | 0 | -0.1 | miss | initiated | 19 |
| 2025-Q1 | 2025-01-30 | Revenue | 11,700–12,700 | 12,667 | in line | confirmed | 17 |
| 2025-Q1 | 2025-01-30 | Gross margin (GAAP) | 33.8% | – | – | confirmed | 17 |
| 2025-Q1 | 2025-01-30 | Gross margin (non-GAAP) | 36% | – | – | confirmed | 17 |
| 2025-Q1 | 2025-01-30 | EPS (GAAP) | -0.27 | -0.19 | beat | confirmed | 17 |
| 2025-Q1 | 2025-01-30 | EPS (non-GAAP) | 0 | 0.13 | beat | confirmed | 17 |
| 2024-Q4 | 2024-10-31 | Revenue | 13,300–14,300 | 14,260 | in line | confirmed | 15 |
| 2024-Q4 | 2024-10-31 | Gross margin (GAAP) | 36.5% | – | – | confirmed | 15 |
| 2024-Q4 | 2024-10-31 | Gross margin (non-GAAP) | 39.5% | – | – | confirmed | 15 |
| 2024-Q4 | 2024-10-31 | EPS (GAAP) | -0.24 | -0.04 | beat | confirmed | 15 |
| 2024-Q4 | 2024-10-31 | EPS (non-GAAP) | 0.12 | 0.13 | beat | confirmed | 15 |
| 2024-Q4 | 2024-10-31 | Tax rate | -50% | – | – | confirmed | 15 |
| 2024-Q3 | 2024-08-01 | Revenue | 12,500–13,500 | 13,284 | in line | initiated | 13 |
| 2024-Q3 | 2024-08-01 | Gross margin (GAAP) | 34.5% | – | – | initiated | 13 |
| 2024-Q3 | 2024-08-01 | Gross margin (non-GAAP) | 38% | – | – | initiated | 13 |
| 2024-Q3 | 2024-08-01 | EPS (GAAP) | -0.24 | -3.88 | – | initiated | 13 |
| 2024-Q3 | 2024-08-01 | EPS (non-GAAP) | -0.03 | -0.46 | – | initiated | 13 |
| 2024-Q1 | 2024-01-25 | Revenue | 12,200–13,200 | 12,724 | in line | initiated | 9 |
| 2024-Q1 | 2024-01-25 | Gross margin (GAAP) | 40.7% | – | – | initiated | 9 |
| 2024-Q1 | 2024-01-25 | Gross margin (non-GAAP) | 44.5% | – | – | initiated | 9 |
| 2024-Q1 | 2024-01-25 | EPS (GAAP) | -0.25 | -0.09 | beat | initiated | 9 |
| 2024-Q1 | 2024-01-25 | EPS (non-GAAP) | 0.13 | 0.18 | beat | initiated | 9 |
| 2023-Q4 | 2023-10-26 | Revenue | 14,600–15,600 | 15,406 | in line | initiated | 7 |
| 2023-Q4 | 2023-10-26 | Gross margin (GAAP) | 43.3% | – | – | initiated | 7 |
| 2023-Q4 | 2023-10-26 | Gross margin (non-GAAP) | 46.5% | – | – | initiated | 7 |
| 2023-Q4 | 2023-10-26 | EPS (GAAP) | 0.23 | 0.65 | beat | initiated | 7 |
| 2023-Q4 | 2023-10-26 | EPS (non-GAAP) | 0.44 | 0.54 | beat | initiated | 7 |
| 2023-Q3 | 2023-07-27 | Revenue | 12,900–13,900 | 14,158 | beat | confirmed | 5 |
| 2023-Q3 | 2023-07-27 | Gross margin (GAAP) | 39.1% | – | – | confirmed | 5 |
| 2023-Q3 | 2023-07-27 | Gross margin (non-GAAP) | 43% | – | – | confirmed | 5 |
| 2023-Q3 | 2023-07-27 | EPS (GAAP) | 0.04 | 0.07 | beat | confirmed | 5 |
| 2023-Q3 | 2023-07-27 | EPS (non-GAAP) | 0.2 | 0.41 | beat | confirmed | 5 |
| 2023-Q2 | 2023-04-27 | Revenue | 11,500–12,500 | 12,949 | beat | initiated | 3 |
| 2023-Q2 | 2023-04-27 | Gross margin (GAAP) | 33.2% | – | – | initiated | 3 |
| 2023-Q2 | 2023-04-27 | Gross margin (non-GAAP) | 37.5% | – | – | initiated | 3 |
| 2023-Q2 | 2023-04-27 | EPS (GAAP) | -0.62 | 0.35 | beat | initiated | 3 |
| 2023-Q2 | 2023-04-27 | EPS (non-GAAP) | -0.04 | 0.13 | beat | initiated | 3 |
| 2023-Q1 | 2023-01-26 | Revenue | 10,500–11,500 | 11,715 | beat | initiated | 1 |
| 2023-Q1 | 2023-01-26 | EPS (GAAP) | -0.8 | -0.66 | beat | initiated | 1 |
| 2023-Q1 | 2023-01-26 | EPS (non-GAAP) | -0.15 | -0.04 | beat | initiated | 1 |
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Development#
A condensed summary per reporting period as running text: what changed operationally, which drivers management names, how earnings and cash flow developed. Most recent period first, grouped by year; each text is written from the original report of that period, superscript numbers lead to the source.
FY2026
In the first half of fiscal year 2026, Intel reported revenue of $13.6 billion in Q1 (+7% year-over-year) and $16.1 billion in Q2 (+25% year-over-year), with Q2 representing the strongest revenue growth in more than fifteen years 29. The Data Center and AI segment was the primary growth driver, expanding 22% to $5.1 billion in Q1 and 59% to $6.3 billion in Q2, while Intel Foundry revenue grew 16% and 31% in the respective quarters 27 29. GAAP results were significantly affected by non-cash charges: a $3.9 billion Mobileye goodwill impairment drove a Q1 GAAP net loss of $3.7 billion, and a $12.5 billion loss related to the net change in fair value of Escrowed Shares produced a Q2 GAAP net loss of $11.0 billion 28 30. Non-GAAP gross margin improved from 39.2% in Q1 2025 to 41.0% in Q1 2026 and further to 41.8% in Q2 2026, with the Q2 year-over-year improvement partly reflecting the absence of $797 million in asset impairment charges recorded in the prior-year quarter 27 30. Intel completed the acquisition of Apollo's 49% minority interest in the Ireland SCIP manufacturing facility for $14.2 billion in Q2 2026, achieving 100% ownership, funded through a combination of existing cash and a $6.5 billion term loan subsequently refinanced via senior fixed-rate notes 30.
FY2025
Intel Corporation reported full-year 2025 revenue of $52.9 billion, flat year-over-year, with a GAAP net loss of $267 million and non-GAAP EPS of $0.42 125. The year was characterized by significant portfolio changes: Intel completed the NAND memory business divestiture to SK hynix in Q1 2025 and sold a 51% stake in Altera to Silver Lake Partners on September 12, 2025, recognizing a $5.6 billion pre-tax gain 26. Intel executed a 2025 Restructuring Plan targeting a 15% reduction in its core workforce by year-end, with $2.2 billion in related charges recognized through Q3 2025, alongside cancellation or delay of manufacturing projects in Germany, Poland, Ohio, Malaysia, and Israel 24 26. Intel 18A reached high-volume manufacturing in Arizona and Oregon by Q4 2025, and the Intel Core Ultra Series 3 (Panther Lake) processors, the company's first client SoCs built on Intel 18A, were unveiled during the year 25. Strategic equity investments of $5.0 billion from NVIDIA and $2.0 billion from SoftBank Group were finalized, and Intel received $5.7 billion in full under the U.S. CHIPS Act commercial agreement 23 24 25.
FY2024
Intel's FY2024 consolidated revenue declined 2% year-over-year to $53.1 billion, while the company recorded a full-year GAAP net loss of $18.8 billion driven primarily by $15.9 billion in impairment charges and $2.8 billion in restructuring charges concentrated in Q3 2024, including a $9.9 billion valuation allowance against U.S. deferred tax assets, $3.1 billion in Intel 7 manufacturing asset impairments, and $2.9 billion in Mobileye-related goodwill impairments 15 17 18. Full-year non-GAAP EPS was $(0.13) and free cash flow was $(15.7) billion against $23.9 billion in capital expenditures 17 125. The company announced a $10 billion cost reduction plan in Q2 2024 targeting more than 15% headcount reduction and suspended its quarterly dividend starting Q4 2024 to prioritize liquidity 13 16. Intel signed a definitive agreement for up to $7.86 billion in direct CHIPS Act funding and announced plans to establish Intel Foundry as an independent subsidiary 15 17. In December 2024, the CEO retired after less than four years in the role and the company appointed interim co-CEOs while commencing a search for a permanent replacement 18.
FY2023
Intel's full-year 2023 revenue declined 14% year over year to $54.2 billion, with GAAP operating income of $93 million and net income of $1.7 billion, as demand weakness and customer inventory reductions weighed heavily on CCG, DCAI, and NEX through the first half of the year 117. The pace of year-over-year revenue decline moderated progressively from 36% in Q1 3 to a 10% year-over-year increase in Q4 9, reflecting gradual inventory normalization across end markets. Full-year non-GAAP adjusted EPS was $1.05, a figure supported in part by approximately $4.1 billion in reduced depreciation expense following an extension of estimated machinery useful life from five to eight years effective January 2023 – a one-time accounting change, not an operational improvement 4. Capital expenditures of $25.8 billion for manufacturing expansion drove free cash flow to negative $14.3 billion, with Intel issuing $11.0 billion in senior notes in Q1 to fund working capital and capital requirements 117 4. Over the course of 2023, Intel advanced Intel 4 into high-volume manufacturing, grew IFS external design wins to four on Intel 18A, announced the planned separation of PSG, and terminated the Tower Semiconductor acquisition agreement 7 8 9.
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Sources: official investor relations documents#
All original documents used, with type (e.g. quarterly, half-year, annual report), publication date and a direct link to the filing (EDINET/SEC/IR). Every superscript number in the report points to an entry in this list; so every figure can be traced back to its place in the original.
52 documents · 2016 – 2026 · SEC EDGAR (USA)
| # | Document type | Published | Link |
|---|---|---|---|
| #1 / #101 | 8-K-EX99.1 | 2023-01-26 | Open |
| #2 | 10-K | 2023-01-27 | Open |
| #3 / #103 | 8-K-EX99.1 | 2023-04-27 | Open |
| #4 | 10-Q | 2023-04-28 | Open |
| #5 / #105 | 8-K-EX99.1 | 2023-07-27 | Open |
| #6 | 10-Q | 2023-07-28 | Open |
| #7 / #107 | 8-K-EX99.1 | 2023-10-26 | Open |
| #8 | 10-Q | 2023-10-27 | Open |
| #9 / #109 | 8-K-EX99.1 | 2024-01-25 | Open |
| #10 | 10-K | 2024-01-26 | Open |
| #11 / #111 | 8-K-EX99.1 | 2024-04-25 | Open |
| #12 | 10-Q | 2024-04-26 | Open |
| #13 / #113 | 8-K-EX99.1 | 2024-08-01 | Open |
| #14 | 10-Q | 2024-08-02 | Open |
| #15 / #115 | 8-K-EX99.1 | 2024-10-31 | Open |
| #16 | 10-Q | 2024-11-01 | Open |
| #17 / #117 | 8-K-EX99.1 | 2025-01-30 | Open |
| #18 | 10-K | 2025-01-31 | Open |
| #19 / #119 | 8-K-EX99.1 | 2025-04-24 | Open |
| #20 | 10-Q | 2025-04-25 | Open |
| #21 | 10-Q | 2025-07-24 | Open |
| #22 / #122 | 8-K-EX99.1 | 2025-07-24 | Open |
| #23 / #123 | 8-K-EX99.1 | 2025-10-23 | Open |
| #24 | 10-Q | 2025-11-06 | Open |
| #25 / #125 | 8-K-EX99.1 | 2026-01-22 | Open |
| #26 | 10-K | 2026-01-23 | Open |
| #27 / #127 | 8-K-EX99.1 | 2026-04-23 | Open |
| #28 | 10-Q | 2026-04-24 | Open |
| #29 / #129 | 8-K-EX99.1 | 2026-07-23 | Open |
| #30 | 10-Q | 2026-07-24 | Open |
Older sources (+22)
| # | Document type | Published | Link |
|---|---|---|---|
| #201 | 10-Q | 2016-05-02 | Open |
| #202 | 10-Q | 2016-08-01 | Open |
| #203 | 10-Q | 2016-10-31 | Open |
| #207 | 10-K | 2017-02-17 | Open |
| #204 | 10-Q | 2017-04-27 | Open |
| #205 | 10-Q | 2017-07-27 | Open |
| #206 | 10-Q | 2017-10-26 | Open |
| #210 | 10-Q | 2018-02-16 | Open |
| #211 | 10-K | 2018-02-16 | Open |
| #208 | 10-Q | 2018-04-27 | Open |
| #209 | 10-Q | 2018-07-27 | Open |
| #214 | 10-Q | 2019-02-01 | Open |
| #215 | 10-K | 2019-02-01 | Open |
| #212 | 10-Q | 2019-04-26 | Open |
| #213 | 10-Q | 2019-07-26 | Open |
| #219 | 10-K | 2020-01-24 | Open |
| #216 | 10-Q | 2020-04-24 | Open |
| #218 | 10-Q | 2020-04-24 | Open |
| #217 | 10-Q | 2020-07-24 | Open |
| #220 | 10-Q | 2021-04-23 | Open |
| #221 | 10-Q | 2021-07-23 | Open |
| #222 | 10-Q | 2021-10-22 | Open |
FAQ#
Does Intel Corporation pay a dividend?
The filings report on the dividend; most recent entry: dividends paid $1.6 billion (2024-Q4) (as reported, no assessment of our own). Details with source links are in the report chapters.
Where can I find the official investor relations documents of Intel Corporation?
The sources chapter links all 67 original filings used (SEC filings) with type, publication date and a direct link; every figure in the report carries a source number.
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