Intel's $2.8B Q1 loss and 36 percent revenue slide were slightly less horrible than expected

CEO Gelsinger insists plan to grow a whopping foundry business will pay off

Intel CEO Pat Gelsinger has defended the company's plan to become a chipmaker for hire after the company's profits plunged 134 percent year over year and it recorded a $2.8 billion loss during the first quarter of 2023....