So, now we have interest rates climbing about 5% on gov't bonds and corp bonds have a spread of 1.5%+ as credit rating goes down...
Intel gross margins are in the dumps and there isn't enough profit to fund the 'new new thing' IFS business.
Intel's timing couldn't be worse, the CEO was clever in grifting for the tax breaks, but the real problem is that billions of billion in new funding will be required to get the IFS fabs beyond 'paved parking lot' and 'shell building' status... and with cost of capital going up, Intel tapping the debt market or even floating new shares looks like a terrible path.
This is really a big mess. How do we get out of it?