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Intel showcased new GenAI solutions with Gaudi 3 accelerator to help businesses overcome obstacles in scaling AI initiatives and democratize AI across various sectors.
After switching to its financial reporting structure, Intel discovered it made a $ 7 billion loss last year, resulting in the need to cut costs with the expectation to control operating costs and achieve profit for the foreseeable future in its foundry and product businesses.
Analyst maintains Intel with Neutral rating and $42 price target, noting improved laptop CPU share due to Meteor Lake and Raptor Lake refresh, while AMD lacks new CPU. Intel also gained desktop CPU share, and aftermarket retail GPU prices increased. Intel aims for 60% gross margin and 40% operating margin, while Foundry targets 40% gross margin and 30% operating margin long-term, with near-term operating margin at -37%. Focus is on product roadmap execution and margin improvement in Foundry business.
Intel aims to reduce dependance on TSMC as its own process technologies gets more competitive.
Intel Corporation has outlined a new financial reporting structure, aligned with the company’s previously announced foundry operating model for 2024 and beyond.