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Intel is separating its ailing foundry business from the main company
Intel's foundry business will become an independent subsidiary, allowing it to take funding from external sources directly.
Intel is in the midst of modernizing its existing fabs and building new ones for its foundry business, which is costing the company billions of dollars, in an effort to catch up to its chipmaking rivals like TSMC and Samsung. The foundry's finances aren't the division's only problem: Its next-gen manufacturing process referred to as "18A" reportedly failed crucial tests to prove that it's ready to be used for mass production. In addition to announcing that the foundry business will become a subsidiary, Gelsinger also disclosed in the memo that Intel will be selling part of its stake in Altera, another chipmaker that it purchased for $16.7 billion in 2015.
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