Intel’s financial reports show that the company’s research and development expenditure has exceeded 10 billion US dollars. It is not surprising that the chipmaker would spend a huge sum on its research and development department given that the company is always looking forward to integrating design, and manufacturing. The same expenditure report has predicted that the expenditure of the same R&D department might exceed 15 billion US dollars this whole year.
Intel’s financial reports that were released on 21st October show that in the first nine months of 2021, the expenditure of the research and development department of the company reached 11.141 billion US dollars which is an increase of 1.24 billion US dollars from the 9.901 billion US dollars of last year. This accounts for an increase of 12.5% year on year.
The reports show that in the first three quarters of this year, its expenditure were respectively 3.623 billion US dollars, 3.715 billion US dollars, and 3.803 billion US dollars. But in the first three quarters of 2020, the expenditures were respectively 3.275 billion U.S. dollars, 3.354 billion U.S. dollars, and 3.272 billion U.S. dollars. If the increase in expenditure continues to grow at this rate, this year the expenditure can reach over 15 billion US dollars.
On the other hand, the company also reported a 60% jump in its net profit but the revenue did not rise. As of October 21, the company’s stock dipped by about 9% in extended trading.
“Q3 shone an even greater spotlight on the global demand for semiconductors, where Intel has the unique breadth and scale to lead,” Intel chief executive Pat Gelsinger said. “We broke ground on new fabs [fabrications – the process of making chips], shared our accelerated path to regain process performance leadership and unveiled our most dramatic architectural innovations in a decade,” said Mr. Gelsinger.
Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.