Intel said on Monday it has lowered its full-year 2025 adjusted operating expense target to $16.8 billion, from $17 billion earlier, to reflect the deconsolidation of its programmable chip business, Altera.
Shares of the struggling chipmaker rose nearly 4% as the trimmed projected expenses provided investors with some respite after burgeoning costs left Intel with a strained balance sheet.
The company recorded an annual loss of $18.8 billion in 2024, its first such loss since 1986, after former CEO Pat Gelsinger poured billions into expanding its…
