Reported about 15 hours ago
Intel is reorganizing its operations by spinning off its networking and communications unit into a standalone company as part of CEO Lip-Bu Tan's efforts to streamline the business and focus on core assets. This move follows a history of challenges within the company, including significant financial losses and a shift towards the AI market, prompting the need for restructuring. The networking unit, responsible for telecom chip production, contributed $5.8 billion to Intel's revenue in 2024.
Source: YAHOO