In an effort to improve its financial and competitive position, Intel will spin off its contract chip manufacturing business, Intel Foundry, into an independent subsidiary.
Intel announced a series of strategic measures aimed at improving its financial and competitive position after recording significant losses in the second quarter of 2023.
According to a letter sent by CEO Pat Gelsinger to his employees, the company is implementing changes that include cost cuts, new alliances and the reorganization of its operating divisions.
Among the most notable decisions is the
conversion of its contract chip manufacturing business, Intel Foundry , into a standalone subsidiary. This move seeks to give the unit greater independence, attract outside investment and improve transparency, optimizing the capital structure to maximize growth and shareholder value creation.
Additionally, Intel has closed a multi-million dollar strategic agreement with Amazon Web Services (AWS) for the design and manufacturing of custom chips. This collaboration will focus on the development of high-performance chips.artificial intelligenceadvanced. Using next-generation nodes such as Intel 18A. With the aim of competing with Asian giants TSMC and Samsung in technological performance.
On the government front, Intel secured france whatsapp number data up to $3 billion in federal funding through the Secure Enclave Program . Part of the U.S. CHIPS Act, which aims to strengthen the country’s semiconductor supply chain and enhance the capabilities of the U.S. military.
However, it is not all about expansion. As part of its cost-saving strategy, the company has decided to temporarily pause several international projects. Such as the construction of new factories in Germany, Poland and Malaysia. Intel will concentrate its European operations on its plant in Ireland and will prioritise key facilities in the United States.
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