Intel has decided to separate its AI-focused foundry business into an independent subsidiary, a move aimed at rejuvenating the company. Facing significant losses and a drop in stock price, Intel's CEO announced the creation of Intel Foundry as a standalone entity with its own board of directors and the ability to raise external funds. This decision intensifies the competition with Nvidia, a key player in AI chip production. Intel plans to start manufacturing chips using its new 18A chipmaking process for partners like Microsoft and Amazon. Despite setbacks in early tests, Intel remains committed to its new chipmaking process. The company also intends to sell part of its stake in Altera and reduce its global real estate footprint. With financial support from the Biden administration, Intel aims to enhance its market competitiveness and profitability amidst tough competition from industry rivals. Read more AI-generated news on: https://app.chaingpt.org/news

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