Company profile
SEC EDGAR ↗- Industry
- Semiconductors & Related Devices
- Listed
- Nasdaq: INTC
- Incorporated
- DE
- Headquarters
- Santa Clara, CA
- Fiscal year end
- Dec 27
Financials
FY2025- Revenue
- $52.9B
- Net income
- −$267.0M
- Total assets
- $211.4B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2025 | $52.9B | −$267.0M | $211.4B |
| FY2024 | $53.1B | −$18.8B | $196.5B |
| FY2023 | $54.2B | $1.69B | $191.6B |
| FY2022 | $63.1B | $8.01B | $182.1B |
| FY2021 | $79.0B | $19.9B | $168.4B |
| FY2020 | $77.9B | $20.9B | $153.1B |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
The analyses
The Cannibalization Choice · Decision Forks
Intel Solved the Innovator's Dilemma Once. The iPhone Wasn't the Same Test.
Intel is the textbook firm that beat the innovator's dilemma - it gutted its own margins with the Celeron in 1998 and won. Then it lost mobile. The popular lesson is that it stopped being paranoid. The real lesson is that the second test wasn't the same shape as the first.
8 min
The Cannibalization Choice · Decision Forks
Intel Did the Math on the iPhone and Said No. The Math Was Right.
Intel is remembered for missing mobile out of blindness. It wasn't blind - it sold its ARM business for $600M to protect fat x86 margins, exactly as the textbook says you should. Then the forecast it trusted was off by 100x.
8 min
The Counterfactual · Decision Forks
Intel's $1 Billion OpenAI Pass Had a Second Killer: Its Own Data-Center Unit
In 2017 Intel could have bought a 15% stake in OpenAI for $1 billion. It walked. The popular version blames one CFO's AI skepticism - but the deal had a second killer: Intel's own data-center unit refused to build chips at cost.
8 min
The Crisis Response · Crisis & Reinvention
Intel's CHIPS Act 'Rescue' Is a Loan With Handcuffs. The Government Just Became Its Co-Pilot.
Everyone calls it an $8.5 billion grant. The final award was $7.86 billion, paid out only as auditors verify construction — and Intel had drawn just $2.2 billion against an $18.8 billion net loss and a CEO shown the door. This isn't a rescue. It's a probation.
8 min
The Bet-the-Company Move · Decision Forks
Intel Bet the Company on Catching Up. It Forgot to Fix Why It Fell Behind.
Intel's IDM 2.0 was sold as a bold pivot. It was a rescue plan — and a late one. The same overreach that buried 10nm in 2015 and 7nm in 2020 came back for 18A, the very node meant to save the company.
8 min
The Fork · Decision Forks
Intel's Foundry Lost $6.96B, Then $13B, on Barely Any Outside Customers
Intel's foundry bet looks like a bold strategic fork: should it build chips for rivals? But it lost $6.96B in 2023 and ~$13B in 2024 on barely any outside customers. The real story isn't ambition - it's an obligation that became too big to exit.
8 min
The Succession Question · Decision Forks
Intel Handed Gelsinger a Binary — Retire or Be Removed — While the Foundry Bled $5.84B a Quarter
Intel called it a retirement. The board called it a binary: retire or be removed. Pat Gelsinger's foundry bet was bleeding $5.84 billion in a single quarter — and the smartest chip operator on the board had already walked out in protest months earlier.
7 min
The Fall · Decision Forks
The Model That Made Intel Unbeatable Shrank It From $509 Billion to $104 Billion
In August 2000 Intel was worth $509 billion - the most valuable company on earth. By December 2024 it was worth $104 billion, behind even AMD and ARM. The iPhone story everyone tells is the wrong one. The real culprit was the model that once made Intel unbeatable.
8 min
The Fall · Decision Forks
Intel's Revenue Barely Moved. Everything That Mattered Collapsed Anyway.
In 2024 Intel's revenue fell just 2%, to $53.1 billion. Yet its foundry lost $13 billion, it cut the dividend and 15% of its workforce, and the board forced out the CEO it had hired to save it. The top line is the autopsy's red herring.
8 min
The Turnaround · Decision Forks
Gelsinger's Turnaround Asked a Shrinking Intel to Fund a Foundry as Revenue Fell to $53.1B
Intel's board pushed Pat Gelsinger out on Dec. 1, 2024 after revenue fell 33% in three years - from $79.0B to $53.1B. The story isn't slow execution. It's a turnaround that asked a shrinking business to fund a foundry it couldn't afford.
8 min
The Vertical Integration · Boundaries of the Firm
Intel Spent $95 Billion to Become Its Own Customer. Then It Fired the Man Who Promised It Would Work.
IDM 2.0 was sold as a trillion-dollar foundry comeback. The real numbers: roughly $95 billion of capex over four years, a $13 billion foundry loss in 2024, a CHIPS award quietly cut to $7.86 billion, and a CEO the board pushed out.
8 min