Get the latest tech news

Intel aims to turn foundry business into subsidiary to allow for outside funding

Intel said it's turning its foundry business into an independent unit with its own board and the potential to raise outside capital.

Beyond just considering outside funding, Intel is weighing whether to spin off the foundry business, possibly into a separate publicly traded company, according to a person with knowledge of the matter who declined to be named to discuss confidential information. Intel will also pause its fab efforts in Poland and Germany "by approximately two years based on anticipated market demand," Gelsinger said, and pull back on its plans for its Malaysian factory. Microsoft and Google have also invested heavily in custom chips to run AI, aiming to offer less expensive processors than Nvidia's general-purpose graphics processing units (GPUs).

Get the Android app