Intel Foundry Business To Become a Subsidiary | The Gestalt IT Rundown: September 18, 2024

Tech Field Day News Rundown · Sep 18, 2024 · 31m

We have talked at length this year about Intel's efforts to turn the ship and add more profitability to the ledger. One of the crown jewels in that portfolio is the foundry business. It has been the recipient of a large amount of government funding through the CHIPS Act. But it is also playing catch up with TSMC and others. New broke yesterday that Intel has announced that the foundry business will be spun off into separate susidiary entity. The new unit will have it's own board and be free to seek outside funding, perhaps even going public at some point. Intel stock jumped 8% in after hours…