Intel Corporation (INTC) - Rapport boursier

Intel’s product business is recovering, but Foundry remains unproven. Stronger demand and execution contrast with Foundry losses and limited outside-customer revenue.

Intel designs and sells computing products and also operates Foundry, its manufacturing platform for Intel and outside customers.

The investment now depends on turning technical progress into external volume, fuller factories, narrower losses and recurring cash after investment.

Revenue was $16.1 billion, up 25% year over year, while Data Center and Artificial Intelligence revenue rose 59% to $6.3 billion and Client Computing and Physical AI Group revenue rose 13% to $8.9 billion.

Intel Products generated $4.82 billion of segment operating income, while Intel Foundry reported a $2.09 billion operating loss.

Intel Foundry reported $5.77 billion of revenue, including $5.47 billion of intersegment revenue and $293 million from external customers.

In the second quarter of fiscal year 2026, Intel said it remained committed to completing 14A development. The key test is whether external demand, yields, utilization, and recurring cash improve while Foundry losses and financing needs decline.

Intel sells mainly through computer makers, cloud providers and distribution partners.

Intel reports the Client Computing and Physical AI Group (CCPG), Data Center and Artificial Intelligence (DCAI), and Intel Foundry. CCPG supplies processors and related products for personal computers and edge systems. DCAI supplies processors, networking products, and application-specific integrated circuits (ASICs), which are chips designed for a particular customer or workload, for servers, cloud infrastructure, and artificial-intelligence applications.

Foundry revenue includes internal work for Intel’s product businesses and external customer activity. Internal transactions are removed in consolidated reporting, so consolidated revenue is the relevant measure of sales to outside customers.

In the second quarter of fiscal year 2026, CCPG generated $8.9 billion of revenue, DCAI generated $6.3 billion, and Intel Foundry generated $5.8 billion. Intel reported total company revenue of $16.1 billion for the quarter. Intel Foundry’s reported revenue included $5.47 billion of intersegment revenue and $293 million from external customers, showing the difference between internal manufacturing activity and outside-customer sales.

Intel’s operating model therefore combines product monetization with manufacturing capacity. Product revenue depends on demand, performance, power use, compatibility, supply, and price. Manufacturing economics also depend on yields, production volume, capacity utilization, and the ability to spread fixed factory costs across enough units.