Intel said it completed the 2nd closing of the sale of its NAND business to SK hynix on March 27, 2025, collected accounts receivable, and recorded $1.9 billion in cash and cash equivalents after certain adjustments. The company said it recognized a net cost of $94 million in Interest and Other, net related to SK hynix payments under the agreement.

1. 01

   Intel said it completed the 2nd closing of the sale of its NAND business to SK hynix on March 27, 2025, collected accounts receivable, and recorded $1.9 billion in cash and cash equivalents after certain adjustments. The company said it recognized a net cost of $94 million in Interest and Other, net related to SK hynix payments under the agreement.

2. 02

   Intel said it recognized $778 million in CHIPS Act grants during the first 3 months of 2025, of which capital-related $690 million reduced total property, plant, and equipment and operating-related $88 million was reflected in operating income. The company also said it recognized $298 million in advanced manufacturing investment tax credits during the same period.

3. 03

   Intel said it expects to recognize total charges of approximately $3.0 billion under its 2024 Restructuring Plan, with cumulative charges through March 29, 2025 of $2.9 billion. The company said it expects the actions under the plan to be substantially completed by Q4 2025, though this may change.

4. 04

   Intel said assets held by Arizona SCIP, its co-investment with Brookfield, were $14.3 billion as of March 29, 2025 ($11.5 billion as of December 28, 2024), consisting substantially of property, plant, and equipment. The company said that if construction of Fab 34 under its co-investment with Apollo is delayed, it may be required to pay delay-related liquidated damages beginning in 2026 not to exceed $1.1 billion in total.

Key figures

Quarter ended March 29, 2025

Revenue

$12.7B

Operating income

−$301M

Net income

−$821M

EPS

−$0.19

Gross profit

$4.7B

Operating cash flow

$813M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.