Intel’s year of 2024 is one that many might wish to forget. Despite dealing with the fallout of self-destructing Raptor Lake chips, disappointing Arrow Lake performance, and the retirement of CEO Pat Gelsinger, the tech giant reported higher overall sales compared to the previous year. However, this came with a severe net loss of $19 billion.

While Intel successfully generated revenue from its various product lines, the Intel Foundry, responsible for chip manufacturing, reported a staggering $13.4 billion in losses on a revenue of $17.5 billion. The firm’s commitment to expanding its fabrication facilities, especially around the 18A process node, contributed to these financial strains.

Nonetheless, other sectors such as Client, Data Center and AI, Networking, and Edge all showed modest gains, which helped stabilize the overall financial landscape. Even if PC users felt let down by the Core Ultra 200S series, system builders and OEMs continued to buy large quantities of Intel processors.

Looking forward, there’s considerable uncertainty regarding Intel’s foundry operations and whether they can eventually turn a profit despite the high levels of investment. Meanwhile, AMD is set to reveal its 2024 financials soon, making for an interesting comparison between the two companies’ fortunes.