2 hours ago
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Trey Thoelcke
Tue, March 17, 2026 astatine 7:45 AM CDT 4 min read
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Intel (INTC) chopped headcount by 32% to 85,100 and reduced superior expenditures 26% to $17.672B, improving full-year operating income 81% to −$2.214B portion gathering its 18A process node to afloat accumulation by Q3. AMD and Nvidia stay ascendant competitors successful CPUs and AI accelerators, respectively. Cash connected the equilibrium expanse grew 73% to $14.265B done divestitures and $7.0B successful outer equity investments from Nvidia and SoftBank.
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New CEO Lip-Bu Tan stabilized Intel’s financials and achieved its archetypal 18A spot shipments successful Q4, but the foundry concern bled $10.33B crossed 2025 with nary way to profitability disclosed.
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Intel (NASDAQ: INTC) shareholders person watched the banal ascent 90.27% implicit the past twelvemonth and 24.01% year-to-date. Those numbers framework the question: has Lip-Bu Tan, who stepped successful arsenic CEO successful aboriginal 2025 pursuing Pat Gelsinger's ouster, really turned Intel around, oregon has the marketplace gotten up of the story?
The honorable reply lies determination successful between. Tan inherited a genuinely hard situation: a costly foundry buildout bleeding cash, Advanced Micro Devices (NASDAQ: AMD) chipping distant astatine CPU marketplace share, Nvidia (NASDAQ: NVDA) dominating AI accelerators, and a workforce that had endured years of strategical whiplash. His archetypal twelvemonth was defined by achy but indispensable triage.
The astir disposable displacement was outgo discipline. Headcount fell from astir 125,200 erstwhile Tan arrived to 85,100 by year-end, a simplification driven by a 15% workforce chopped announced successful Q2 that carried a $1.9 cardinal restructuring charge. Capital expenditures dropped to $17.672 cardinal for the afloat year, down 26% from anterior guidance. Non-GAAP operating expenses fell to $16.5 billion, down 15% versus 2024.
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The fiscal trajectory improved meaningfully. Full-year operating income came successful astatine −$2.214 billion, an 81% betterment year-over-year. Operating currency travel reached $9.697 billion, up 17%. Cash connected the equilibrium expanse grew to $14.265 billion, up 73% year-over-year, aided by the Altera partial divestiture, Mobileye stock sales, a $5.70 cardinal CHIPS Act disbursement, and equity investments from Nvidia ($5.0 billion) and SoftBank ($2.0 billion).
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