Intel's struggling Foundry business finds first security chip customer

Intel is searching for major Foundry customers after spending billions on new factories.

Updated Jul 22, 2026 12:17 PM / Published Jul 21, 2026 5:40 PM 2 min read

Intel's struggling Foundry business finds first security chip customer — Intel CEO Lip-Bu Tan at an Intel Foundry event in 2025. Image credit: Intel

Intel has found a new customer for its refreshed Foundry business, boosting its profile as CEO Lip-Bu Tan oversees an expensive, years-long turnaround for the subsidiary that saw $174 million in external revenue last quarter.

The hardware company will co-develop the Fortinet's Security Processor 6 (SP6) chips and manufacture them using its Intel 4 process, in its first foundry deal with a security company and the first external deal for Intel 4.

Fortinet CEO Ken Xie said the deal would expand an existing relationship with Intel to make use of its "unique combination of advanced semiconductor technology, manufacturing expertise, and global supply chain capabilities."

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Noah Bovenizer

Noah Bovenizer is a senior reporter with The Stack. He previously covered the transportation sector for Global Data. He has a first class degree in journalism and has also worked as a newsreader for Gaydio.