SANTA CLARA, California — Intel reported second-quarter earnings on Friday, offering investors a fresh look at the chipmaker's costly foundry turnaround and progress on its advanced 18A manufacturing process. The results follow months of deep cost-cutting under chief executive Lip-Bu Tan.

Intel has struggled to regain footing against Nvidia, Taiwan Semiconductor Manufacturing Company and Advanced Micro Devices, which have captured much of the demand driven by artificial intelligence. Tan, who took over the company earlier this year, has pledged to streamline operations, cut headcount and focus the foundry business on securing external customers.

Financial data providers forecast continued pressure on Intel's data centre and client computing segments. Wall Street's focus centred on capital spending guidance and any updates on 18A production yields.

The Foundry unit has posted heavy losses as Intel builds out manufacturing capacity in Arizona and Ohio. Investors watched for commentary on whether Intel would secure additional external foundry commitments and how U.S. government support, including provisions tied to the CHIPS and Science Act, factored into its plans.

The company's share price has remained volatile through 2026 amid questions about its long-term competitiveness. A statement from Intel's investor relations accompanied the release, with executives scheduled to address the results on a call with analysts. Tan has repeatedly framed 2026 as a rebuilding year rather than one of immediate recovery.