By the end of the second quarter of 2024, its shares fell by 30%. Against the background of the crisis, rumors arose that Intel would split into two companies. Now the company’s president, Pat Gelsinger, has confirmed these plans.
In a post on the official Intel website, he said: “We plan to establish Intel Foundry as an independent subsidiary. This will provide customers and suppliers with greater autonomy from the rest of Intel and flexibility in raising financing.”
Intel also partnered with Amazon Web Services, which provides multi-year, multi-billion dollar product and semiconductor support.
The company also received $3 billion from the US government under its Secure Enclave program.
Whether such a move can save Intel remains unclear: the first results will only become apparent after a few years.
Source: Ferra
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