突发爆雷！刚刚，大跳水！

Core Viewpoint - Intel reported a significant net loss of $2.92 billion (approximately 21 billion RMB) for Q2 2025, marking the sixth consecutive quarter of losses and the longest losing streak in 35 years, which has raised concerns about its profitability outlook [1][5][7]. Financial Performance - In Q2 2025, Intel achieved revenue of $12.9 billion, a slight year-over-year increase of 0.2%, surpassing analyst expectations of $11.88 billion [5]. - The net loss of $2.92 billion is a substantial increase from the $1.61 billion loss in the same quarter last year [5]. - Adjusted gross margin for Q2 was only 29.7%, down from 38.7% year-over-year and below the expected 36.6% [6]. - The foundry business was particularly affected, generating $4.4 billion in revenue but incurring an operating loss of $3.17 billion [6]. Future Outlook - Intel forecasts Q3 2025 revenue between $12.6 billion and $13.6 billion, with a gross margin of 34.1% under GAAP and a projected loss of $0.25 per share [6][7]. - The company maintains its full-year capital expenditure forecast at approximately $8 billion to $11 billion [7]. Workforce and Cost-Cutting Measures - Intel announced a large-scale layoff plan, aiming to reduce its workforce by over 20% by the end of 2025, which translates to a reduction of approximately 30,000 employees from a total of 108,900 as of December 2024 [10][11]. - The company has already implemented a 15% reduction in its workforce, with management positions cut by about 50% [10]. - Additionally, Intel has canceled plans for new factories in Germany and Poland and is slowing down the construction of its Ohio facility [13][14]. Management Changes and Strategy - CEO Pat Gelsinger's successor, Chen Lifeng, has indicated a shift in focus towards financial restructuring rather than expanding Intel's foundry business [18]. - Chen acknowledged that previous investments were excessive and misaligned with market demand, leading to inefficiencies in factory utilization [15][17].