Intel drops 8% as chipmaker's foundry business axes projects, struggles to find customers
Publishing timestamp: 2025-07-25 16:01:09
Summary
Intel reported better-than-expected second-quarter results but warned of foundry troubles as it struggles to turn around its business. CEO Lip-Bu Tan said the company would only invest in new technology with customer commitments and is halting production on two Europe-based plants. Intel's stock dropped more than 8% after chipmaker said it would slash foundry costs in its latest attempt to turn around its struggling business. Intel's drop on Friday wiped out most of its rally for the year.
Sentiment: MIXED
Keywords: nvidia corp, intel corp, business news, technology, earnings, breaking news: earnings, breaking news: technology,
Source: https://www.cnbc.com/2025/07/25/intel-drops-9percent-as-ceo-warns-of-chip-manufacturing-issues.html