Intel Corporation is a global integrated device manufacturer (IDM) specializing in the design, development, manufacturing, marketing, and sale of CPUs and related solutions. Their products are utilized globally by consumers, enterprises, governments, and educational organizations, and are primarily sold to OEMs, ODMs, cloud service providers, and other manufacturers through various channels . Intel's product offerings provide end-to-end solutions, scaling from data centers to networks, PCs, edge computing, and emerging fields like AI and autonomous driving . The company's primary CPU products include Intel Core processors for notebooks and desktops, Intel Xeon processors for data centers and AI, and Intel Atom processors for entry-level platforms .
- Client Computing Group (CCG) - Focuses on end-user form factors, providing Intel Core processors for notebooks and desktops.
- Data Center and AI (DCAI) - Delivers data center and AI solutions, including Intel Xeon processors.
- Network and Edge (NEX) - Offers networking and edge solutions to enhance connectivity and processing at the network's edge.
- Mobileye - Develops advanced driver-assistance systems and autonomous driving technologies.
- Intel Foundry Services (IFS) - Provides foundry services to other manufacturers, supporting their semiconductor manufacturing needs.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
David Zinsner Executive | Interim Co-CEO and CFO | None | Joined Intel in January 2022 as CFO; previously held senior roles at Micron Technology and Analog Devices. Appointed Interim Co-CEO in December 2024. | View Report → |
Michelle Johnston Holthaus Executive | Interim Co-CEO and CEO of Intel Products | None | Joined Intel in 1996; held various leadership roles, including EVP of Client Computing Group and Chief Sales Officer. Appointed Interim Co-CEO in December 2024. | View Report → |
Barbara G. Novick Board | Director | BlackRock (Senior Advisor), New York Life Insurance (Board Member), Peterson Institute (Board Member) | Co-founder of BlackRock; joined Intel's Board in 2022. Expertise in investment, finance, and public policy. | |
Dion J. Weisler Board | Director | Thermo Fisher Scientific (Board Member), BHP Group (Board Member) | Joined Intel's Board in 2020; former CEO of HP Inc. with expertise in manufacturing, emerging technologies, and business development. | |
Eric Meurice Board | Director | Global Blue Group (Board Member), IPG Photonics (Board Member) | Joined Intel's Board in December 2024; former CEO of ASML Holding, where he led significant growth and strategic initiatives, including EUV lithography development. | |
Frank D. Yeary Board | Interim Executive Chair of the Board | PayPal Holdings (Board Member), Mobileye Global (Board Member), Darwin Capital Advisors (Principal) | Joined Intel's Board in 2009; became Chair in January 2023 and Interim Executive Chair in December 2024. Former Vice Chancellor at UC Berkeley and investment banker at Citigroup. | |
James J. Goetz Board | Director | Sequoia Capital (Partner), Palo Alto Networks (Board Member) | Partner at Sequoia Capital since 2004; joined Intel's Board in 2019. Focuses on cloud, mobile, and enterprise technology investments. | |
Risa Lavizzo-Mourey Board | Director | GE Healthcare Technologies (Lead Director), Merck & Co. (Board Member), Better Therapeutics (Board Member) | Joined Intel's Board in 2018; former President and CEO of the Robert Wood Johnson Foundation. Expertise in healthcare, governance, and public policy. | |
Steve Sanghi Board | Director | Microchip Technology (Chairman and Interim CEO), Impinj (Board Member) | Joined Intel's Board in December 2024; former CEO of Microchip Technology, where he achieved 121 consecutive quarters of profitability and significant market value growth. | |
Tsu-Jae King Liu Board | Director | UC Berkeley (Dean of Engineering), MaxLinear (Board Member) | Joined Intel's Board in 2016; renowned semiconductor researcher and co-inventor of FinFET technology. |
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What impact do the restructuring actions have on your R&D roadmap, long-term external Foundry opportunity, and any chipset funding, especially considering your previous projection of $15 billion in long-term value from external Foundry? Is there any impact on those growth targets due to the restructuring?
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How do you plan to execute your Foundry strategy given the CapEx cuts, particularly when considering the goal of bringing wafers back in-house to improve gross margins by 2026, while also increasing outsourcing to TSMC? Are the CapEx cuts reflecting that some of your Foundry customers are less committed?
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Given that your CPU competitor appears to be performing better in the same environment, have the core challenges facing Intel been accurately diagnosed? What is your contingency plan if cost-cutting measures alone do not address these issues?
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Are there any structural changes to your competitiveness, company structure, or long-term financial targets that necessitated the recent spending adjustments? Can you describe these structural changes and their potential impact on your financial goals?
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Regarding your customers engaged with on the 18A and 14A nodes, have you observed any changes in their commitment or project timelines? Are they still planning to ramp their programs, or have there been hesitations or delays?
Research analysts who have asked questions during INTEL earnings calls.
Aaron Rakers
Wells Fargo
5 questions for INTC
Joseph Moore
Morgan Stanley
5 questions for INTC
Ross Seymore
Deutsche Bank
5 questions for INTC
Timothy Arcuri
UBS
5 questions for INTC
Vivek Arya
Bank of America Corporation
5 questions for INTC
Stacy Rasgon
Bernstein Research
4 questions for INTC
Christopher Muse
Cantor Fitzgerald
3 questions for INTC
Srinivas Pajjuri
Raymond James & Associates, Inc.
3 questions for INTC
Ben Reitzes
Melius Research LLC
2 questions for INTC
William Stein
Truist Securities
2 questions for INTC
Benjamin Reitzes
Melius Research
1 question for INTC
Christopher Caso
Wolfe Research
1 question for INTC
Thomas O’Malley
Barclays Capital
1 question for INTC
Vijay Rakesh
Mizuho
1 question for INTC
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes in the advanced process technology marketplace and is a primary competitor in the semiconductor foundry space, focusing on delivering wafers and packaging technologies from fabrication plants primarily in Asia. | |
Samsung | Competes in the advanced process technology marketplace and is a primary competitor in the semiconductor foundry space, focusing on delivering wafers and packaging technologies from fabrication plants primarily in Asia. |
Competes in the semiconductor foundry space, focusing on delivering wafers and packaging technologies from fabrication plants primarily in Asia. | |
Competes in the semiconductor foundry space, focusing on delivering wafers and packaging technologies from fabrication plants primarily in Asia. | |
Semiconductor Manufacturing International Corporation (SMIC) | Competes in the semiconductor foundry space, focusing on delivering wafers and packaging technologies from fabrication plants primarily in Asia. |
Competes across the full spectrum of CPUs, GPUs, accelerators, and other products, and is a key competitor in the processor market. | |
Designs application processors based on ARM architecture and competes in the processor market. | |
Introduced PC products utilizing internally developed ARM-based semiconductor designs, replacing client CPUs and increasing competition with its M series products and ecosystem. | |
Provides GPU systems and competes in the accelerator products market, including GPUs for AI and other workloads. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Customer A | Major OEM/ODM or Cloud Service Provider | Intel Products operating segments | 19% of net revenue in 2024 , 19% in 2023 , and 19% in 2022. |
Customer B | Major OEM/ODM or Cloud Service Provider | Intel Products operating segments | 14% of net revenue in 2024 , 11% in 2023 , and 12% in 2022. |
Customer C | Major OEM/ODM or Cloud Service Provider | Intel Products operating segments | 12% of net revenue in 2024 , 10% in 2023 , and 11% in 2022. Part of top three customers collectively having 47% of total trade receivables in 2024. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Granulate Cloud Solutions Ltd. | 2022 | Intel acquired Granulate to integrate its real‑time AI-driven continuous optimization software that enhances compute workload performance (up to 30% improvement) and lowers cloud infrastructure costs, supporting Intel’s goal to grow its software and services revenue to $1 billion annually. |
Tower Semiconductor | 2022 | Intel’s acquisition of Tower Semiconductor was executed as a cash-for-stock deal at $53 per share (approx. $5.4 billion EV), aimed at advancing its IDM 2.0 strategy by expanding its foundry services with specialized analog semiconductor capabilities, with the deal expected to be immediately EPS accretive and subject to regulatory approvals and customary conditions. |
Recent press releases and 8-K filings for INTC.
- Whirlpool will invest $300 million in its Clyde and Marion, Ohio facilities to boost washer and dryer production capacity and create 448 to 600 new jobs.
- The expansion is supported by JobsOhio, Regional Growth Partnership, One Columbus and state tax credits to reinforce Ohio’s advanced manufacturing ecosystem.
- In Northwest Ohio, advanced manufacturing includes 1,700 companies, employs 130,000 workers and generates $11.6 billion in Gross Regional Product, accounting for nearly a quarter of the state’s manufacturing output.
- This project complements investments from Amgen, Intel, Joby, Honda and First Solar, underscoring Ohio’s position as a national hub for advanced manufacturing.
- Intel revealed Panther Lake, its first AI PC platform built on the Intel 18A process node, as part of the upcoming Core Ultra series 3 processors.
- Panther Lake will enter high-volume production at Fab 52 in Arizona later this year, with the first SKUs shipping by year-end and broad availability in January 2026.
- The architecture offers up to 16 performance- and efficient-cores for over 50% faster CPU performance and integrates a new Intel Arc GPU with 12 Xe cores for over 50% faster graphics versus the prior generation.
- Intel also previewed Xeon 6+ (Clearwater Forest), an 18A-based server processor featuring up to 288 E-cores and a 17% IPC uplift, targeting a launch in H1 2026.
- Intel 18A is the first 2 nm-class node developed and manufactured in the U.S., delivering up to 15% better performance per watt and 30% higher chip density compared to Intel 3, and is ramping at Fab 52.
- RealSense has spun out from Intel, raised $50 million in a Series A round backed by Intel Capital and other investors to fuel its AI-powered vision technology growth.
- The independent company entered a strategic collaboration with NVIDIA to integrate its depth cameras with NVIDIA’s robotics platforms, including Jetson Thor and Isaac Sim, to accelerate physical AI adoption.
- RealSense’s depth cameras are embedded in 60% of autonomous mobile robots and 80% of humanoid robots worldwide, supported by a customer base exceeding 3,000 and over 80 patents.
- The recently launched D555 depth camera featuring Power over Ethernet underscores RealSense’s leadership in embedded vision and edge AI.
- Amkor will invest $7 billion across two phases to build a new advanced packaging and test campus in Arizona, adding over 750,000 sq ft of cleanroom space and creating up to 3,000 jobs.
- Construction of the first manufacturing facility is expected to finish by mid-2027, with production slated to begin in early 2028.
- The campus, supported by the CHIPS for America Program and investment tax credits, will serve key customers such as Apple and NVIDIA.
- This project marks the first U.S.-based high-volume advanced packaging facility, strengthening America’s semiconductor supply chain.
- Intel is in early-stage negotiations with AMD to become a foundry customer, a strategic shift under CEO Pat Gelsinger to expand Intel Foundry Services.
- AMD currently relies on TSMC for chip production, and Intel lacks the technology to manufacture AMD’s most advanced chips, making the scope of any potential deal unclear.
- Intel’s stock surged over 7% on October 1, 2025, reaching its highest level since April 2024, despite broader market declines, reflecting investor optimism about the partnership talks.
- The discussions align with U.S. efforts to bolster domestic chip manufacturing and have support from the White House, Nvidia, and SoftBank, though no agreement is guaranteed and investment details remain unknown.
- ASM International now expects 5–10% revenue decline in H2 2025 versus H1 and sees full-year growth at the lower end of its previous 10–20% range.
- The company reported 12% revenue growth in 2024, reaching €2.93 billion.
- Soft demand is linked to uneven client ordering amid trade uncertainties and weaker orders from major customers like Intel and Samsung.
- Bookings are forecast to fall below billings in H2 2025, which is expected to weigh on 2026 growth.
- Intel and Nvidia will co-develop x86 PC SoCs integrating Nvidia RTX GPU chiplets via NVLink, targeting AI servers and consumer devices.
- Nvidia commits $5 billion investment in Intel, underpinning collaboration that could enable new handheld gaming PCs with advanced DLSS support.
- No products are expected imminently; industry sources suggest the first “GB10” SoC may arrive in over two years, while Intel continues separate development of its ARC GPU line.
- The partnership includes a sustainability element, with Nvidia leveraging Intel’s manufacturing expertise to reduce chip production emissions.
- Citi downgraded Intel from Neutral to Sell and raised its price target to $29, citing skepticism about Intel’s foundry turnaround despite the $5 billion Nvidia partnership.
- Intel’s stock has rallied ~50% since early August, marking its largest one-day gain since 1987, but Citi warns this optimism may be overvalued.
- The total addressable market for the Intel–Nvidia AI collaboration is estimated at $1–2 billion, which Citi views as unlikely to generate significant returns or materially enhance competitiveness.
- Despite the downgrade, 39 of 47 analysts maintain a Hold rating on Intel shares, and GuruFocus’s fair value of $23.36 implies a ~23.6% downside from current levels.
- US stock markets closed at historic highs with the S&P 500 surpassing 6,600, the Nasdaq 100 up 0.7%, and the Dow rising above 46,300
- Intel shares jumped 22.8%, its largest one-day gain since 1987, after Nvidia announced a $5 billion investment and partnership to co-develop data center and PC products
- Rally was fueled by upbeat corporate earnings, the Federal Reserve’s first rate cut of 2025, and progress in US–China relations
- Tech stocks led gains while consumer staples lagged, though investors remain cautious about potential economic slowdowns and tariff impacts
- Intel will design custom data center and PC x86 CPUs integrating NVIDIA NVLink, combining NVIDIA’s AI stack with Intel’s CPU and packaging capabilities.
- NVIDIA will invest $5.0 billion in Intel common stock by purchasing 214,776,632 shares at $23.28 per share in a private placement.
- The transaction, structured under Section 4(a)(2) of the Securities Act, is subject to customary closing conditions, including HSR antitrust approval.