Intel taps Lens Technology for glass substrate packaging

Intel's packaging push comes against a mixed financial backdrop. Second-quarter revenue rose 25% year over year to $16.1 billion, and Data Center and AI revenue jumped 59% to $6.3 billion, yet the company also reported an $11 billion GAAP net loss. That gap between improving operating momentum and reported profitability is the context in which management is pointing to advanced packaging and the foundry network as opportunities to capture AI-driven growth.

The Lens Technology memorandum, disclosed on July 24, sits alongside Intel's work on optical glass couplers and detachable connectors for co-packaged optics, which the company describes as still at the research stage. Separately, Intel reported growing customer interest in its EMIB-T advanced packaging technology, with a growing backlog and plans to ramp production to support customer programs in 2027. The company has not named the customers behind that backlog.

The cost side matters too: Intel raised its 2026 capital spending outlook to more than $20 billion, which suggests the packaging and foundry buildout will require heavy investment before commercial returns are visible. The company's forward valuation already reflects expectations of improvement, so the packaging efforts are likely to be judged on whether they convert into named customers and orders.