TECH - Chip Maker Intel Aims For $1B In Software Revenue By 2027 | Benzinga
Intel Corp’s (NASDAQ:INTC) latest foray into the software realm is proving successful. According to Chief Technology Officer Greg Lavender, the company aims to achieve cumulative software revenue of $1 billion by the end of 2027.
Intel generated over $100 million in software revenue in 2021, the year CEO Pat Gelsinger recruited Lavender from VMware to lead the chipmaker’s software initiatives. Since then, Intel has acquired three software firms.
Lavender expressed his goal of reaching $1 billion in software and developer cloud subscription revenue, potentially achieving this target before the end of 2027, Reuters reported.
Intel’s overall revenue was $54 billion in 2023. It offers a diverse range of software services, including cloud computing and artificial intelligence.
The company’s strategic focus encompasses AI, performance, and security, with notable investments in these domains.
Lavender highlighted a growing demand for ...