Intel doubles down on foundry as AI drives up demand

PALO ALTO, U.S.-- Intel is doubling down on its foundry business now that surging demand for AI chips has become a new tailwind for the company's contract chipmaking venture.

For the three months ended Dec. 31, Intel reported $15.4 billion in revenue, up 10% on the year after seven quarters of decline. For the full year of 2023, revenue declined 14% to $54.2 billion.