Intel Foundry Wins "Magnificent Seven" Customer as Backlog Rockets Past $15 Billion
Semiconductor giant (NASDAQ: INTC) has an ambitious plan to become the world's second-largest foundry by 2030. The company is in the middle of rolling out five process nodes in four years. If all goes according to plan, Intel will effectively erase the manufacturing edge that foundry leader TSMC has built up by the start of 2025.
Intel's foundry business isn't producing much revenue right now, but the company disclosed that it had secured more than $10 billion of business when it last reported results in late January. These commitments from customers, which will translate into revenue over multiple years, are for both manufacturing and advanced packaging services.
It's been about a month since Intel's disclosure that it had surpassed $10 billion of lifetime deal value for its foundry business. During the company's foundry event last week, Intel updated that figure to more than $15 billion. This boost was partly driven by a deal struck with Microsoft (NASDAQ: MSFT), a "Magnificant Seven" stock, to manufacture chips on Intel's upcoming Intel 18A process.
Source Fool.com
Intel Corp. Stock
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