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CNBC's Jim Cramer on Friday indicated he's grown more skeptical about Intel's turnaround plans under CEO Pat Gelsinger.

Intel shares fell nearly 7% on Wednesday, as ballooning losses at its contract chip-making business signaled the company could take years to catch up with the profitability of rival Taiwan Semiconductor Manufacturing Co. Disclosing new financials details for its foundry unit on late Tuesday, Intel said the business posted operating losses of $7 billion in 2023 compared with $5.2 billion in 2022. "We expected foundry economics to be bad, and they truly are," said Bernstein analyst Stacy Rasgon. "We likely have several years of substantial headwinds still in front of us."

The company has spent billions of dollars to return as the dominant maker of cutting-edge chips

The trade war between the U.S. and China continued ever since Trump was the U.S. President. When the U.S. stepped up tensions by restricting semiconductor exports to the country, China responded. It will ban the use of Intel (INTC) and AMD (AMD) processors ...

Intel faces challenges with chip-making, resulting in a 7% stock drop. Analysts anticipate a $12 billion market value loss, while CEO Gelsinger foresees losses peaking in 2024 before breaking even by 2027.