Intel foundry sees $7 billion in losses and doesn't expect to break even until 2027

Intel foundry unit reported $7 billion in losses which led to a share price drop of over 4%. According to Intel's CEO, these losses are partially due to a failure to switch to new machinery.

source https://www.windowscentral.com/hardware/cpu-gpu-components/intel-foundry-sees-dollar7-billion-in-losses-and-doesnt-expect-to-break-even-until-2027