I'm bullish on Intel's IDM 2.0 vision in the later stages of a 10-year horizon, but as of today and for at least the next few years, this assertion is unsubstantiated bullshit.
According to their latest Q3 10-Q filing[1], Intel Foundry Services segment accounts for $576M revenue and -$289M operating losses YTD.
In contrast, Globalfoundries' last relevant 6-K filing[2] reported $3.933B revenue and $501M operating profit YTD...and oh by the way, GFS Q3 earnings call isn't until next week Tuesday, so these numbers reflect only 6 months of the current fiscal year.
The reality these numbers support is that Intel's (bleeding) cash cow is in making and selling their own chips, not fabbing other companies' designs.
Furthermore, the only named portfolio segment that's currently doing worse that Intel Foundry Services is Accelerated Computing Systems and Graphics, which has hemorrhaged -$1.275B in operating losses YTD. Even Mobileye segment generated 2.3x more revenue than Intel Foundry Services segment YTD, and is profitable despite being acquired only 5 years ago.
To be fair, AMD intentionally divested their legacy foundry capabilities a decade ago; conflating GFS with AMD in the foundry space is logically indefensible, and there's meaningful underlying reasons why AMD pivoted to fabless.
[1] https://www.sec.gov/Archives/edgar/data/50863/00000508632200...
[2] https://www.sec.gov/ix?doc=/Archives/edgar/data/1709048/0001...