By 2025, Intel's foundry business, known as Intel Foundry Services (IFS), is expected to keep lagging behind, with revenue falling drastically short of TSMC's and a substantial distance still to go before reaching the break-even point. Its anticipated revenue for 2025 stands at $120 million, a mere fraction—one-thousandth, to be precise—of TSMC's revenue for the same year, a figure that pales in comparison when set against the backdrop of Intel's substantial capital investments.

Since the inauguration of its new CEO, Lip-Bu Tan, various departments within Intel have embarked on an active transformation journey. However, the path to commercializing the IFS business remains fraught with challenges.

The market has exhibited a degree of enthusiasm for Intel's next-generation processes, with industry giants like Tesla, Broadcom, and Microsoft keeping a close eye on its 18A and 14A process nodes. These nodes are widely regarded as pivotal for revitalizing the IFS business.

At present, Intel has yet to fully unveil its 18A process. Meanwhile, upcoming products such as Panther Lake and Clearwater Forest are poised to serve as critical benchmarks for evaluating its technological roadmap.

Lip-Bu Tan has made it clear that if the 14A process fails to garner significant customer commitments and achieve key milestones, the company may be compelled to decelerate or even terminate related development initiatives.

Analysts emphasize that while a head-to-head comparison between Intel and TSMC may not be entirely equitable, it does underscore how technological stagnation can result in enduring competitive disadvantages. Presently, TSMC reigns supreme in the global foundry market, whereas Intel is still on the quest for a game-changing breakthrough.