Intel: new financial framework for foundry activities

(CercleFinance.com) - Intel on Tuesday evening announced a new financial framework for its Foundry business, a new structure 'designed to drive greater cost discipline and higher returns' across the company.


'As it begins to take hold, we plan to accelerate our trajectory towards achieving our ambition of 60% non-GAAP gross margin and 40% non-GAAP operating margins by 2030', says CFO Dave Zinsner.

The new Intel Foundry segment will account for revenues generated by both external foundry customers and Intel Products, as well as technology development and manufacturing costs for products historically attributed to Intel Products.

Intel has also announced the appointment of Lorenzo Flores as CFO of Intel Foundry, effective April 8. He has nearly 30 years' financial experience in semiconductors and technology, most recently as CFO of Xilinx.

Copyright (c) 2024 CercleFinance.com. All rights reserved.