Core Viewpoint - Intel experienced significant turmoil in 2024, facing intense competition in the chip design and manufacturing market, leading to substantial losses. In 2025, under new CEO Lip-Bu Tan, the company is taking measures to address systemic issues and streamline operations, although a full turnaround will take several quarters [1][10]. Financial Performance - In Q1 2025, Intel reported revenue of $12.7 billion, flat year-over-year but down 11% quarter-over-quarter. The gross margin was 36.9%, a decline of 4.1 percentage points year-over-year and 2.3 percentage points quarter-over-quarter. The net loss was $888 million, a 115% decrease year-over-year and a 604% decline quarter-over-quarter [2][3]. - Despite the losses, Intel achieved a non-GAAP profit of $580 million, indicating that core operations are not entirely in distress. However, restructuring and compensation costs have significantly impacted overall performance [3]. Business Unit Developments - Intel's Foundry division generated $4.7 billion in revenue, a 7% increase year-over-year, but faced an operating loss of $2.3 billion, with an operating margin of -50%. The division is striving to become a key player in the contract manufacturing space [4][5]. - The Data Center and AI Group (DCAI) reported revenue of $4.1 billion, an 8% increase year-over-year, with operating income of $575 million and an operating margin of 13.9%, marking the best performance in over a year. AI hardware sales were below expectations, but CPU and storage sales exceeded forecasts [7]. - The Client Computing Group (CCG), Intel's primary revenue source, saw revenue of $7.6 billion, an 8% decline year-over-year, with operating income of $2.4 billion and an operating margin of 30.9%. The group absorbed the edge computing business, but overall performance was affected by inherited underperforming product lines [8]. Strategic Changes - Intel completed the divestiture of its NAND business, selling it to SK Hynix, and is in the process of selling a majority stake in FPGA manufacturer Altera to Silver Lake, retaining 49% ownership. The valuation for Altera is approximately $8.75 billion [2][9]. - The company is also restructuring its operations, with plans to reduce capital expenditures from $20 billion to $18 billion and operating expenses by $500 million to $17 billion in 2025, with further reductions planned for 2026 [10]. Future Outlook - Intel's Q2 2025 revenue outlook is projected at $11.8 billion (±$600 million), with GAAP and non-GAAP gross margins expected to be 34.3% and 36.5%, respectively. The company anticipates challenges due to U.S. trade policies and potential economic downturns [9][10].

如果您希望可以时常见面，欢迎标星收藏哦~ 今天，英特尔举办了晶圆代工大会，会上公司指出，正在与主要客户洽谈即将推出的14A工艺 节点（相当于1.4纳米），该节点是18A工艺节点的后续产品。英特尔已有多家客户计划流片 14A测试芯片。英特尔还透露，公司至关重要的18A节点目前已进入风险生产阶段，并计划于 今年晚些时候实现量产。 英特尔新的18A-P扩展节点（18A节点的高性能变体）目前正在晶圆厂早期生产。此外，该公司正 在开发一种新的18A-PT变体，该变体支持带有混合键合互连的Foveros Direct 3D，使该公司能够 在其最先进的前沿节点上垂直堆叠芯片。 在英特尔的新方案中，Foveros Direct 3D 技术是一项关键的进展，因为它提供了竞争对手台积电 （TSMC）已在生产中使用的功能，最著名的是 AMD 的 3D V-Cache 产品。事实上，英特尔的实 现在关键互连密度测量方面与台积电的产品不相上下。 在成熟节点方面，英特尔代工厂目前已在晶圆厂中完成其首个 16nm 生产流片，并且该公司目前 还在与联华电子合作开发的 12nm 节点吸引客户。 接下来，我们来看一下这家巨头的晶圆代工最新路线图 ...

Core Viewpoint - Intel has announced that its 18A process node has entered risk production, marking a significant milestone in its "Four Nodes in Four Years" (5N4Y) plan aimed at regaining semiconductor leadership from competitors like TSMC [1][2]. Group 1: 18A Process Node - The 18A process node is currently in early-stage risk production, which involves small-scale testing production [1]. - Intel's 5N4Y plan, initiated by former CEO Pat Gelsinger, is nearing completion with the 18A node, despite the cancellation of mass production for the 20A node [1][4]. - The 18A chips will be the first to utilize PowerVia back power delivery and RibbonFET gate-all-around transistors, enhancing performance and transistor density [4]. Group 2: Risk Production Explained - Risk production is a standard industry term indicating that the technology has reached a level where it can be frozen for production, allowing customers to confirm its adequacy for their products [2]. - This phase involves scaling up production from hundreds to thousands and eventually to tens of thousands of units, ensuring that the technology can meet production capabilities [2][3]. - Customers may accept the risks associated with this phase to gain a competitive advantage by entering the market earlier with their designs [3]. Group 3: Future Developments - Intel plans to expand its production scale later this year, following the risk production phase [2]. - The company is also committed to its broader foundry roadmap, which includes the upcoming 14A node utilizing high-NA EUV lithography technology [4]. - Despite delays in the construction of its Ohio factory until 2030, the announcement of 18A risk production reflects positive developments at its Arizona facility [4].