Intel said it's turning its foundry business into an independent unit with its own board and the potential to raise outside capital.
Intel said Monday that it's creating a separate entity for its foundry business, a structure that could allow it to raise outside funding.CREATE FREE ACCOUNT
As part of CEO Pat Gelsinger's effort to turn around the struggling chipmaker, Intel said in a memo to employees that it will also sell off part of its stake in Altera. Beyond just considering outside funding, Intel is weighing whether to spin off the foundry business, possibly into a separate publicly traded company, according to a person with knowledge of the matter who declined to be named to discuss confidential information.
Prior to the post-market pop, Intel had lost almost 60% of its value this year. The company has given up market share in its core PC and data center business and watchedrun away with the market for chips that power artificial intelligence workloads.
Technology Breaking News Intel Corp Amazon.Com Inc Pat Gelsinger NVIDIA Corp Microsoft Corp Alphabet Inc Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Is Intel stock stuck right now? Bernstein discussesIs Intel stock stuck right now? Bernstein discusses
Read more »
How Intel's AI platforms can help identify untapped athletic talentWhat if finding that talent was as easy as capturing video on a smartphone?
Read more »
Intel rallies to highest level since earnings disaster on foundry spin-off rumorIntel (INTC), the troubled legacy semiconductor giant, jumped 9% on Friday after the company leaked internal discussions over spinning off its foundry business and refocusing on chip design.
Read more »
Intel has hired Morgan Stanley, other advisers for activist defenseWith its stock down almost 60% this year, Intel is gearing up to defend itself against pressure from activist investors.
Read more »
Intel Lunar Lake Processors Are Set To Shake-Up The AI PC LandscapeDave Altavilla is Principal Analyst and Co-Founder of HotTech Vision And Analysis, as well as Editor In Chief of HotHardware.com. He has been a Forbes Senior Contributor for over a decade.
Read more »
How Intel's AI platforms are making the Olympic and Paralympic Games more accessibleSome 15,000 athletes and as many as 15 million spectators are expected at the Olympic and Paralympic Games this summer. That means countless things to discover…
Read more »