Intel · customer concentration
Intel’s biggest customers
Who are Intel’s biggest customers?
Dell Inc.: 19% of FY2025 revenue
Also disclosed for FY2025 (customer groups, not one customer): Three Largest Customers 43%.
“Collectively, our three largest customers accounted for 43% of our net revenue in 2025, 45% of our net revenue in 2024 and 40% of our net revenue in 2023.”
Intel 10-K, verbatim · 10-K · filed Jan 23, 2026
Numbers, method and sources
Share of revenue per customer as tagged in the filing’s XBRL (ConcentrationRiskPercentage, benchmark revenue). US GAAP requires disclosure only for customers with at least 10% of revenue; a year without a customer means below 10% or not disclosed. Labels like “Customer A” are the filer’s own; the same label is not guaranteed to be the same customer every year.
FY2025
- Dell Inc. 19%
- Lenovo Group Limited 12%
- HP Inc. 12%
- Three Largest Customers (group) 43%
FY2024
- Dell Inc. 19%
- Lenovo Group Limited 14%
- HP Inc. 12%
- Three Largest Customers (group) 45%
FY2023
- Dell Inc. 19%
- Lenovo Group Limited 11%
- HP Inc. 10%
- Three Largest Customers (group) 40%
FY2022
- Dell Inc. 19%
- Lenovo Group Limited 12%
- HP Inc. 11%
- Three Largest Customers (group) 42%
FY2021
- Dell Inc. 21%
- Lenovo Group Limited 12%
- HP Inc. 10%
- Three Largest Customers (group) 43%
FY2020
- Dell Inc. 17%
- Lenovo Group Limited 12%
- HP Inc. 10%
- Three Largest Customers (group) 39%
FY2019
- Dell Inc. 17%
- Lenovo Group Limited 13%
- HP Inc. 11%
- Three Largest Customers (group) 41%
SEC filings only. No market data.
Is Intel getting more dependent on one customer?
Largest disclosed customer, by fiscal year
All Intel facts from SEC filings · Customer concentration of all companies