Intel Statistics 2026
By Axis Intelligence Research
Co-author: Mia Scarlett | Last updated: October 1, 2026 | License: CC BY 4.0
Intel’s foundry now consumes 43 cents of every dollar its chip business earns. Axis Intelligence Research’s Foundry Drag Ratio (FDR™) fell to 43.37% in Q2 2026, from 117.94% a year earlier, when foundry losses exceeded the entire operating profit of Intel’s product divisions — calculated from Intel’s SEC-filed segment results.
Quick Answer
Intel reported $16.1 billion in Q2 2026 revenue, up 25% year over year, per its Q2 2026 earnings release filed with the SEC. Data Center and AI grew 59%. Intel Foundry still lost $2.1 billion, but Axis Intelligence Research calculates that the loss now equals 43.37% of product-side operating profit, down from 117.94% in Q2 2025. The GAAP net loss of $11.0 billion is almost entirely an accounting mark on shares owed to the U.S. government.
Key Findings
- Axis Intelligence Research finds Intel’s Foundry Drag Ratio (FDR™) fell to 43.37% in Q2 2026, from 117.94% in Q2 2025, based on segment results in Intel’s SEC filings.
- Axis Intelligence Research calculates Intel’s External Foundry Share (XFS™) at 5.08% in Q2 2026: $293 million of external revenue against $5.765 billion of total Intel Foundry revenue, per Intel’s Q2 2026 Form 10-Q.
- Intel’s Q2 2026 GAAP net loss of $11.033 billion included a $12.529 billion mark-to-market loss on shares held in escrow for the U.S. Department of Commerce, per Intel’s Q2 2026 earnings release.
- Intel’s Data Center and AI (DCAI) operating margin reached 39.51% in Q2 2026, up from 16.07% a year earlier, Axis Intelligence Research calculates from Intel’s segment disclosures.
- Intel generated $195.97 thousand of revenue per employee in Q2 2026, up 54.53% year over year, as headcount fell 18.84% to 82,300, Axis Intelligence Research calculates from Intel’s Q2 2026 release.
How Much Revenue Does Intel Make in 2026?
Intel booked $16.128 billion in net revenue in Q2 2026 (quarter ended June 27, 2026), against $12.859 billion a year earlier, according to Intel’s Q2 2026 earnings release. First-half 2026 revenue reached $29.705 billion, per the Q2 2026 Form 10-Q.
The full-year 2025 base was flat: $52.853 billion, versus $53.101 billion in 2024, per Intel’s Q4 and full-year 2025 earnings release.
Intel Quarterly Revenue, Q4 2024 to Q2 2026
| Quarter ended | Net revenue ($M) | Source |
|---|---|---|
| Dec 28, 2024 (Q4 2024) | 14,260 | Intel Q4 2025 8-K |
| Mar 29, 2025 (Q1 2025) | 12,667 | Intel Q1 2026 8-K |
| Jun 28, 2025 (Q2 2025) | 12,859 | Intel Q2 2026 8-K |
| Dec 27, 2025 (Q4 2025) | 13,674 | Intel Q4 2025 8-K |
| Mar 28, 2026 (Q1 2026) | 13,577 | Intel Q1 2026 8-K |
| Jun 27, 2026 (Q2 2026) | 16,128 | Intel Q2 2026 8-K |
What Is Intel’s Q3 2026 Revenue Guidance?
Intel guided Q3 2026 revenue to $15.8–16.8 billion, a $16.3 billion midpoint, with a 42.0% non-GAAP gross margin, in its Q2 2026 release dated July 23, 2026.
Mia Scarlett: The quarter looks like a recovery until you check what it was measured against. Q2 2025 was the trough, and it carried $1.89 billion of restructuring charges. The cleaner signal is sequential: $13.577 billion to $16.128 billion in one quarter, with the Q3 guide midpoint sitting just above the Q2 print. Guidance that holds the new level, rather than extrapolating the jump, is the tell of a company that knows how much of Q2 was supply catching up to backlog.
Which Intel Segment Makes the Money?
Intel reports two product segments — Client Computing and Physical AI Group (CCPG, formerly CCG) and Data Center and AI (DCAI) — plus Intel Foundry, which sells wafers mostly to Intel itself.
Intel Segment Revenue and Operating Income, Q2 2026 vs Q2 2025
| Segment | Q2 2026 revenue ($M) | Q2 2025 revenue ($M) | Q2 2026 op. income ($M) | Q2 2025 op. income ($M) | Source |
|---|---|---|---|---|---|
| CCPG (client) | 8,877 | 7,871 | 2,343 | 2,053 | Intel Q2 2026 8-K |
| DCAI (data center) | 6,262 | 3,939 | 2,474 | 633 | Intel Q2 2026 8-K |
| Total Intel Products | 15,139 | 11,810 | 4,817 | 2,686 | Intel Q2 2026 8-K |
| Intel Foundry | 5,765 | 4,417 | (2,089) | (3,168) | Intel Q2 2026 8-K |
| All other | 701 | 1,053 | 230 | 69 | Intel Q2 2026 8-K |
Segment revenues include intersegment sales; Intel eliminated $5.477 billion of them in Q2 2026, so segment totals exceed consolidated revenue.
Is Intel’s Data Center Business Growing?
Yes, fastest in the company. DCAI revenue rose 59% year over year in Q2 2026. Intel’s Form 10-Q attributes the gain primarily to server revenue, with server average selling prices up 48%. DCAI’s operating margin was 39.51% in Q2 2026 versus 16.07% a year earlier (Axis calculation: operating income ÷ revenue). DCAI now makes up 41.36% of Intel Products revenue, from 33.35%.
In Q2 2026, for the first time in this dataset, DCAI’s operating income ($2.474 billion) exceeded CCPG’s ($2.343 billion).
Are Intel PC Chip Sales Rising or Falling?
Revenue rose, units fell. CCPG revenue grew 13% year over year, but Intel’s 10-Q discloses client volumes down 8% in Q2 2026, with supply constraints impacting the first half. CCPG operating margin held at 26.39%.
Mia Scarlett: A 48% server ASP increase on a 59% revenue gain means most of the DCAI story is price and mix, not a flood of new sockets. That matters for anyone modelling 2027: pricing power fades faster than installed base. The client business tells the same story from the other side — fewer chips, higher prices. Both are what a supply-constrained quarter looks like.
How Much Money Does Intel Foundry Lose?
Intel Foundry posted a $2.089 billion operating loss in Q2 2026, narrowing from $3.168 billion in Q2 2025. For full-year 2025, the foundry lost $10.318 billion, after $13.291 billion in 2024, per Intel’s full-year 2025 release.
Introducing the Foundry Drag Ratio (FDR™)
A raw loss figure hides the question investors actually ask: can Intel’s product business carry its factories? The Foundry Drag Ratio (FDR™), created by Axis Intelligence Research, answers it directly.
FDR™ = |Intel Foundry operating loss| ÷ Intel Products operating income × 100
A reading above 100% means the foundry lost more than the products earned. A reading of 0% means a break-even foundry. Both inputs come straight from Intel’s SEC-filed segment tables; nothing is estimated.
Worked example (Q2 2026): $2,089M ÷ $4,817M × 100 = 43.37%.
FDR™ Readings by Quarter and Year
| Period | Foundry op. loss ($M) | Intel Products op. income ($M) | FDR™ | Source of inputs |
|---|---|---|---|---|
| FY2024 | 13,291 | 13,008 | 102.18% | Intel Q4 2025 8-K |
| Q4 2024 | 2,249 | 3,568 | 63.03% | Intel Q4 2025 8-K |
| Q1 2025 | 2,320 | 2,936 | 79.02% | Intel Q1 2026 8-K |
| Q2 2025 | 3,168 | 2,686 | 117.94% | Intel Q2 2026 8-K |
| FY2025 | 10,318 | 12,739 | 81.00% | Intel Q4 2025 8-K |
| Q4 2025 | 2,509 | 3,459 | 72.54% | Intel Q4 2025 8-K |
| Q1 2026 | 2,437 | 4,058 | 60.05% | Intel Q1 2026 8-K |
| Q2 2026 | 2,089 | 4,817 | 43.37% | Intel Q2 2026 8-K |
| H1 2025 | 5,488 | 5,622 | 97.62% | Intel Q2 2026 10-Q |
| H1 2026 | 4,526 | 8,875 | 51.00% | Intel Q2 2026 10-Q |
Axis Intelligence Research finds FDR™ has declined for three consecutive quarters (72.54% → 60.05% → 43.37%). Both terms moved: the foundry loss shrank $1.079 billion year over year while product operating income rose $2.131 billion.
What FDR™ does not capture. Segment operating income excludes restructuring charges, share-based compensation and the escrowed-share marks, which Intel books at corporate level. FDR™ measures operating coverage, not cash — Intel’s 10-Q notes that the substantial majority of consolidated depreciation sits in Intel Foundry.
Mia Scarlett: FY2024’s 102% is the number that explains the last two years of Intel’s strategy. A product business that cannot cover its own factory losses has three options: raise product margins, shrink the loss, or bring in someone else’s wafers. Q2 2026 shows the first two working. The third is where XFS™ comes in.
Does Intel Foundry Have Real External Customers?
Barely, but growing fast. Intel’s Q2 2026 Form 10-Q discloses $293 million of third-party foundry and assembly-and-test revenue in the quarter, against $22 million in Q2 2025 — a 13.32× increase (Axis calculation). First-half 2026 external revenue reached $467 million, versus $53 million in H1 2025.
External Foundry Share (XFS™)
The External Foundry Share (XFS™), created by Axis Intelligence Research, tracks how much of Intel Foundry’s revenue comes from outside Intel.
XFS™ = external foundry revenue ÷ total Intel Foundry segment revenue × 100
| Period | External revenue ($M) | Intel Foundry revenue ($M) | XFS™ | Source |
|---|---|---|---|---|
| Q2 2025 | 22 | 4,417 | 0.50% | Intel Q2 2026 10-Q |
| H1 2025 | 53 | 9,084 | 0.58% | Intel Q2 2026 10-Q |
| H1 2026 | 467 | 11,186 | 4.17% | Intel Q2 2026 10-Q |
| Q2 2026 | 293 | 5,765 | 5.08% | Intel Q2 2026 10-Q |
About 94.92% of Intel Foundry revenue in Q2 2026 still came from Intel itself. Intel’s own 10-Q states that substantially all of Intel Foundry supports internal manufacturing.
Mia Scarlett: Put FDR™ and XFS™ side by side and the thesis is readable in two numbers. FDR™ is falling mainly because Intel’s own products got more profitable and its own wafers got cheaper — not because outsiders are paying for capacity. An XFS™ of 5% is a pilot, not a business. The filing to watch is the one where XFS™ reaches double digits without FDR™ rising; until then, the foundry is still an internal cost centre with a separate P&L.
Why Did Intel Report an $11 Billion Loss in Q2 2026?
Intel’s GAAP net loss attributable to Intel was $11.033 billion in Q2 2026, or $(2.16) per share. Non-GAAP net income was $2.197 billion, or $0.42 per share.
The gap is one line. Intel recorded a $12.529 billion loss on the mark-to-market of “Escrowed Shares” — Intel common stock held in escrow for release to the U.S. Department of Commerce under the CHIPS Act Secure Enclave agreement. As Intel’s share price rises, the liability to deliver those shares grows, and the increase is booked as a loss. Axis Intelligence Research calculates the escrow mark equalled 113.56% of the entire GAAP net loss — without it, the GAAP line would have been positive before tax effects.
The 10-Q puts the fair value of the escrowed-share liability at $15.6 billion as of June 27, 2026, with 143 million escrowed shares not yet released.
Mia Scarlett: This is the footnote that reframes the quarter. The loss is real accounting, but it is a consequence of the stock going up, not of the business going down. Anyone screening Intel on GAAP EPS in 2026 is screening on its share price.
How Much of Intel Does the U.S. Government Own?
Under an agreement announced August 22, 2025, the U.S. government agreed to buy 433.3 million Intel shares at $20.47 each — an $8.9 billion investment equal to a 9.9% stake, per Intel’s 8-K announcing the agreement. The purchase was funded by $5.7 billion of unpaid CHIPS Act grants and $3.2 billion from the Secure Enclave program.
The stake is passive, with no board seat. The government also received a five-year warrant at $20 per share for an additional 5%, exercisable only if Intel ceases to own at least 51% of its foundry business. Intel’s 10-Q sizes that warrant at up to 241 million shares.
Separately, Intel completed a $5.0 billion sale of common stock to NVIDIA, reported in its full-year 2025 release.
How Many People Work at Intel?
Intel had 82,300 employees at June 27, 2026, versus 101,400 a year earlier and 108,900 at the end of 2024, per Intel’s earnings releases. The 2025 count excludes roughly 3,000 Altera employees after Intel sold 51% of Altera on September 12, 2025.
| Date | Total employees (thousands) | Source |
|---|---|---|
| Dec 28, 2024 | 108.9 | Intel Q4 2025 8-K |
| Jun 28, 2025 | 101.4 | Intel Q2 2026 8-K |
| Dec 27, 2025 | 85.1 | Intel Q4 2025 8-K |
| Jun 27, 2026 | 82.3 | Intel Q2 2026 8-K |
Revenue per employee (Axis calculation, quarterly revenue ÷ headcount): $195.97 thousand in Q2 2026 versus $126.81 thousand in Q2 2025, a 54.53% increase.
How Much Is Intel Spending on Factories?
Gross capital expenditures were $17.672 billion in 2025, down from $25.122 billion in 2024. First-half 2026 gross capex totalled $7.615 billion ($4.963 billion in Q1, $2.652 billion in Q2), per Intel’s quarterly releases.
In Q2 2026, Intel’s adjusted free cash flow was $(8.419) billion despite $7.006 billion of operating cash flow. The swing reflects Intel’s April 8, 2026 repurchase of Apollo’s 49% stake in the Ireland Fab 34 joint venture for $14.2 billion, which Intel classifies as partner distributions, per the 10-Q. Long-term debt stood at $48.549 billion at quarter-end.
What Is Intel’s CPU Market Share Among PC Gamers?
Intel’s share of Windows gaming PCs on Steam fell from 55.81% in April 2026 to 54.47% in August 2026, while AMD rose from 44.18% to 45.52%, according to Valve’s Steam Hardware & Software Survey. On Linux Steam systems, Intel held 33.04%.
| Month (2026) | Intel (Windows) | AMD (Windows) | Source |
|---|---|---|---|
| April | 55.81% | 44.18% | Valve Steam Survey |
| May | 55.02% | 44.97% | Valve Steam Survey |
| June | 55.08% | 44.92% | Valve Steam Survey |
| July | 54.65% | 45.34% | Valve Steam Survey |
| August | 54.47% | 45.52% | Valve Steam Survey |
Steam measures an installed base of opted-in gaming PCs, not shipments or revenue. Axis Intelligence Research does not merge it with Intel’s revenue data because the methodologies are incompatible; it is published as a separate installed-base signal. For the broader chip market, see our semiconductor statistics; for platform context, our Steam statistics.
Intel Statistics FAQ
Is Intel profitable in 2026?
On an operating basis, yes: Intel posted $1.796 billion of GAAP operating income in Q2 2026. At the net level, no: the GAAP net loss attributable to Intel was $11.033 billion, driven by a $12.529 billion mark on shares escrowed for the U.S. government. Non-GAAP net income was $2.197 billion.
Why does Intel Foundry lose money if it sells mostly to Intel?
Intel Foundry prices wafers to Intel Products at rates intended to approximate market pricing, but it carries the cost of leading-edge process development and most of Intel’s depreciation. In Q2 2026 its costs were $7.854 billion against $5.765 billion of revenue. The Foundry Drag Ratio (FDR™) shows the loss now equals 43.37% of product operating profit.
What is the Foundry Drag Ratio (FDR™)?
FDR™ is an Axis Intelligence Research metric: Intel Foundry’s operating loss divided by Intel Products’ operating income. It read 43.37% in Q2 2026, 117.94% in Q2 2025 and 102.18% for full-year 2024. Below 100%, the product business covers the foundry’s losses.
How much revenue does Intel Foundry get from outside customers?
$293 million in Q2 2026 and $467 million in the first half of 2026, per Intel’s Form 10-Q. That is an External Foundry Share (XFS™) of 5.08% for the quarter, calculated by Axis Intelligence Research.
Does the U.S. government control Intel?
No. The 9.9% stake bought in August 2025 is passive, with no board representation, and the government agreed to vote with Intel’s board on most matters. Its warrant for a further 5% only activates if Intel’s ownership of its foundry drops below 51% — effectively a penalty on spinning off the fabs.
Is Intel’s data center business catching up with its PC business?
In profit, it has already passed it. DCAI earned $2.474 billion of operating income in Q2 2026 versus $2.343 billion for client computing, even though client revenue ($8.877 billion) remained larger than DCAI’s ($6.262 billion).
Why is Intel’s free cash flow negative while operating cash flow is positive?
In Q2 2026, Intel generated $7.006 billion of operating cash but reported $(8.419) billion adjusted free cash flow, because the $14.2 billion buyback of Apollo’s stake in Ireland Fab 34 counts against net partner contributions in Intel’s definition.
How many employees has Intel cut?
Total headcount fell from 108,900 at the end of 2024 to 82,300 at June 27, 2026. Part of the drop reflects roughly 3,000 Altera employees leaving the count after the September 2025 divestiture.
Methodology
Axis Intelligence Research built this dataset exclusively from primary filings retrieved on September 30, 2026: Intel’s Form 8-K earnings releases for Q4/FY2025 (January 22, 2026), Q1 2026 (April 23, 2026) and Q2 2026 (July 23, 2026); Intel’s Form 10-Q for the quarter ended June 27, 2026; Intel’s August 2025 8-K on the U.S. government investment; and Valve’s Steam Hardware & Software Survey (August 2026).
Calculated figures (all flagged axis_calculated = yes in the CSV, with formulas):
- FDR™ = |Intel Foundry operating loss| ÷ Intel Products operating income × 100.
- XFS™ = external foundry revenue ÷ Intel Foundry segment revenue × 100.
- Segment operating margin = segment operating income ÷ segment revenue × 100.
- Revenue per employee = quarterly net revenue ÷ total employees.
- Escrow-to-loss ratio = escrowed-share mark-to-market loss ÷ |GAAP net loss attributable to Intel| × 100.
Every ratio was computed twice (floating point and exact rational arithmetic) and matched to two decimals.
Scope. Segment figures follow Intel’s current reporting structure; Intel recast prior periods when it folded NEX into CCG and DCAI in 2025. Year-over-year comparisons are affected by the Altera deconsolidation effective September 12, 2025. Segment revenues include intersegment sales. External foundry revenue is not disclosed for full-year periods in the documents fetched, so no full-year XFS™ is published.
About This Dataset
The dataset intel-statistics.csv contains 179 rows covering Intel revenue, segment revenue and operating income (Q4 2024–Q2 2026, FY2024–FY2025), margins, cash flow, capex, headcount, U.S. government stake terms, Steam CPU vendor share (April–August 2026) and Axis Intelligence Research’s FDR™ and XFS™ readings. Each row carries its source organization, document, URL, retrieval date and a formula note where calculated.
- License: CC BY 4.0 — free to reuse with attribution.
- Updates: revised when Intel files new quarterly results or when a filing restates segment data.
- Citation line: Axis Intelligence Research, Intel Statistics 2026, 2026.
Cite This Page
APA: Axis Intelligence Research, & Scarlett, M. (2026, October 1). Intel statistics 2026: Revenue, segment profits, foundry losses and the U.S. government stake. Axis Intelligence. https://axis-intelligence.com/intel-statistics/
MLA: Axis Intelligence Research, and Mia Scarlett. “Intel Statistics 2026: Revenue, Segment Profits, Foundry Losses and the U.S. Government Stake.” Axis Intelligence, 1 Oct. 2026, axis-intelligence.com/intel-statistics/.
Chicago: Axis Intelligence Research and Mia Scarlett. “Intel Statistics 2026: Revenue, Segment Profits, Foundry Losses and the U.S. Government Stake.” Axis Intelligence, October 1, 2026. https://axis-intelligence.com/intel-statistics/.
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