Intel has disclosed a significant operating loss of $7 billion for its foundry business in 2023, a substantial increase from the $5.2 billion loss reported in 2022. The company's foundry revenue also saw a decline, dropping to $18.9 billion in 2023 from $27.5 billion the previous year, and its Data Center and AI revenue decreased to $12.64 billion from $16.86 billion Y/Y. This financial downturn comes amidst Intel's ambitious expansion plans, which aim to compete with leading chip manufacturers like TSMC and Samsung. Despite the current financial challenges, Intel outlines a new financial reporting structure designed to enhance cost discipline and drive margin expansion for 2024 and beyond. The company also anticipates that the operating losses for its foundry business will peak in 2024, with profitability still a few years away. Intel's stock has reacted negatively to these announcements, with a more than 3% drop in after-hours trading and a 2% decrease AH. The 'Intel Products' segment reported an $11.3B op. profit last year.