Quick update: Intel's foundry business posted a Q1 loss of $2.437 billion, with revenues at $5.421 billion. The losses are narrowing, but we're not quite at the inflection point yet.

The 18A node has entered mass production, but the yield isn't profitable yet; we're looking at the earliest to 2026 year-end for that. The Panther Lake mobile and Clearwater Forest server chips are built on this node and will start shipping throughout the first half of the year.
The more critical variables: Apple has secured the 18A-P PDK 0.9.1GA and is running internal simulations. Once the Q1 PDK 1.0 drops, the formal certification will kick off. Meanwhile, Google's TPU v8e is evaluating Intel's EMIB advanced packaging. If either of these deals lands, Intel's foundry narrative could change dramatically.
Tesla is also gearing up for the next-gen 14A node, aimed for chips in the Austin Terafab AI factory. A year ago, Intel was the punchline; now it’s suddenly the focal point of bullish sentiment. Losses are shrinking, and customers are increasing—next earnings report will be the real test.#TradfiTradingChallenge