Intel reports a $3.73 billion Q1 GAAP net loss amid $3.64 billion capex, while AMD generates $6.70 billion in free cash flow for FY25.
Intel posted a GAAP net loss of $3.73 billion in Q1 FY26, driven by a $4.07 billion restructuring charge and $3.64 billion in capital expenditures. Operating cash flow reached just $1.10 billion, highlighting financial strain from its foundry buildout.
AMD, by contrast, generated $6.70 billion in free cash flow for FY25 with minimal capex, benefiting from strong AI GPU deployments at major cloud providers. Intel’s foundry segment lost $2.51 billion in Q4 FY25 alone, while full-year revenue slipped to $52.85 billion.
Intel’s stock trades at 137x forward earnings, reflecting investor skepticism despite CHIPS Act tailwinds and government equity stakes.