Intel Foundry Lands First Named Customer as Fortinet Signs Security Chip Deal
Claire Weston
Cybersecurity firm Fortinet will use Intel's foundry to build its next-generation security chip SP6 — the first publicly named external customer under CEO Lip-Bu Tan — but the deal runs on the older Intel 4 process, not the leading-edge nodes Intel still needs to fill.
What exactly did this deal cover?
Fortinet will have Intel Foundry manufacture its next-gen security chip, SP6, on the Intel 4 process.
Intel 4 is an older-generation node aimed at relatively straightforward chips such as ASICs — application-specific integrated circuits built for a single defined function — in the networking space.
This means → the deal proves Intel Foundry can win external work, but Intel 4 sits several generations behind the cutting-edge 14A and 18A nodes.
How many customers does Intel Foundry actually have?
Lip-Bu Tan said in May that "multiple customers" are working with the foundry, but he personally does not disclose names — Fortinet is the first to go public.
Previously disclosed partnerships include Microsoft (a processor, announced 2024), Amazon (custom AI chips, 2024), Google (an infrastructure processing unit), and assistance to Tesla and SpaceX in building a fab called Terafab.
President Trump said in June that Apple would have Intel make chips in the U.S., but neither Apple nor Intel has formally confirmed the claim.
In plain terms = the roster looks long, but Intel Foundry's largest confirmed customer is still Intel itself, plus U.S. government defense chips. A true big-ticket external order remains missing.
Why does a "marquee" advanced-node customer matter so much?
Intel disclosed in an April regulatory filing that it is still working to secure a "marquee" customer for its most advanced processes.
This means → without large advanced-node orders, Intel's massive capital spending on fabs in the U.S. and abroad lacks the revenue to justify it — the foundry business model doesn't hold.
Fortinet's order uses an older node and cannot directly answer that core question.
How significant is Fortinet itself?
Fortinet lacks the name recognition of Apple, Tesla, or the cloud giants, but the cybersecurity market it operates in is riding strong demand for advanced protection in the AI era.
Fortinet's stock has roughly doubled year-to-date; on its May earnings call the company said it would keep increasing investment in ASIC technology.
This reflects high momentum in cybersecurity itself. Fortinet choosing Intel Foundry at least shows Intel is competitive in non-cutting-edge chip categories like ASICs.
What does the market watch next?
Intel reports second-quarter earnings after the U.S. market close this Thursday.
The key question: whether the Fortinet signing can draw more named customers and, in turn, drive commercial validation of Intel's advanced nodes.
In plain terms = one security-chip client on an older process has opened the door, but for Intel Foundry to truly stand on its own, it needs 14A and 18A orders from major players.
Content is for reference only, not financial advice.