INTEL CORP (INTC)

Intel is a global designer and manufacturer of CPUs and other semiconductor products built mainly on its x86 architecture. Its products are designed and marketed by the Intel Products business, which comprises the CCG and DCAI operating segments. They are manufactured by the Intel Foundry operating segment and by third-party suppliers. Intel Foundry also offers semiconductor design and manufacturing services to external customers, although nearly all of its output currently supports Intel Products. The company reports three segments (CCG, DCAI and Intel Foundry) plus an "all other" category. On September 12, 2025, Intel completed the divestiture of 51% of Altera, which is no longer consolidated.

CCG supplies platforms and processors for PCs and edge devices. Its client CPUs include the Intel Core and Intel Core Ultra families (Series 1, 2 and 3, with Series 3 the first products on the Intel 18A process). It also offers commercial CPUs and the vPro platform, Intel Arc discrete client GPUs, edge computing versions of its CPUs, and Wi-Fi, Bluetooth, Thunderbolt and Ethernet connectivity products. DCAI offers data center products including Intel Xeon server CPUs (3rd to 5th Gen Xeon Scalable and Xeon 6), discrete AI GPUs in development (Crescent Island and Jaguar Shores), Ethernet controllers and adapters, IPUs, custom ASICs and supporting software. Intel Foundry develops process and advanced packaging technologies and provides manufacturing, assembly, test and packaging capacity and design enablement. The "all other" category includes Mobileye (80% owned, driver-assistance and self-driving solutions), IMS (68% owned, multi-beam mask writing tools) and Altera through September 11, 2025. Most revenue in 2025, 2024 and 2023 came from CCG and DCAI.

CCG's direct customers are distributors and OEMs that design and sell PCs and related devices to consumers and to commercial enterprises in sectors such as education, healthcare, finance and government. Demand in 2025 was driven by a PC refresh cycle, Windows 10 end-of-support, AI PC adoption and growth outside the U.S. DCAI's direct customers are global cloud service providers and hyperscalers and OEMs, which in turn sell to enterprises, small and medium-sized businesses, software and hardware vendors, systems integrators, communications service providers and governments. Its markets are driven by data growth and AI adoption. Intel Foundry targets external customers in AI and high-performance computing, where chiplet-based designs and supply chain resiliency are shaping demand.

Intel manufactures most of its products in its own facilities in the U.S. and internationally, using proprietary process technologies. It also uses third-party foundries, including TSMC, for certain tiles or entire products. Many newer products use a disaggregated, multi-tile design connected through advanced packaging such as EMIB and Foveros. This adds complexity and cost, and advanced substrates are currently supply-constrained. Intel describes itself as the only company doing both leading-edge logic R&D and high-volume manufacturing in the U.S. CCG's main competitor is AMD, along with ARM-based designers such as Apple, Qualcomm and MediaTek. DCAI competes with AMD, NVIDIA, hyperscalers' custom silicon, ARM- and RISC-V-based entrants and Broadcom in custom ASICs. Intel Foundry competes with TSMC and Samsung at the leading edge, and with GlobalFoundries, UMC and SMIC in mature nodes.