Intel’s Shrinking Losses Can’t Stem the Tide of 2026 Supply Woes

Intel’s shrinking losses can’t mask a $300 million deficit in 2025—despite $20 billion in cash injections from Nvidia and the U.S. government.

Intel reported $52.9 billion in 2025 revenue (down from $53.1 billion in 2024) and a $300 million GAAP loss, with shares falling 13.5%. CFO David Zinsner noted: "We exceeded Q4 expectations... but demand fundamentals remain healthy."

"We exceeded Q4 expectations... but demand fundamentals remain healthy," said CFO David Zinsner.

Data Center and AI Group (DCAI) revenue rose to $4.7 billion in Q4 2025 (up 7% YoY), but Intel admits demand for Xeon processors will outpace 2026 supply by $300 million. Intel Foundry recorded a $2.5 billion operating loss in Q4 2025 due to Intel 18A ramp costs and EUV node investments.

Zinsner warned Q1 2026 revenue guidance ($11.7–$12.7 billion) reflects depleted buffer inventory and "hand-to-mouth" supply constraints: "Available supply will be at its lowest level in Q1 before improving in Q2 and beyond."