Latest news with #NetworkAndEdge
Yahoo
25-07-2025
- Business
- Yahoo
Intel Plans to Spin Off Its Networking Unit as CEO Looks to Shed Assets
Intel (INTC) is looking to spin off its networking unit as the struggling chipmaker moves to shed assets under the direction of new CEO Lip-Bu Tan, according to a report Friday. Intel has already started the process of courting strategic investors for its Network and Edge group, and notified customers of the move this week, CRN reported. Intel told CRN that it intends to remain an 'anchor investor' in the business. That deal recalls Altera, the programmable chips unit that Intel in April agreed to sell a 51% stake in to a private equity firm. Intel did not immediately respond to Investopedia's request for comment. Tan, who took the helm of Intel in March, has said he would look to cut non-core assets and streamline the business as part of his efforts to engineer a turnaround. His moves so far have also included layoffs, an end to previously planned projects in Germany and Poland, and a slowdown in the already delayed construction of new facilities in Ohio. 'I do not subscribe to the belief that if you build it, they will come,' Tan told investors on Thursday's earnings call, raising some concerns that Intel's cost discipline under Tan could also mean a lengthy recovery and potentially hamper its ability to catch up with competitors. Shares of Intel tumbled nearly 9% Friday after the chipmaker posted a loss. The drop erased most of the stock's gains for the year. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-07-2025
- Business
- Yahoo
Intel is spinning off its Network and Edge group
Intel continues to streamline its business. The company plans to spin off its Network and Edge group, which is responsible for making chips for the telecom industry, as originally reported by CRN. Intel will be an anchor investor in the standalone business and will seek outside capital. Intel was rumored to be looking for a buyer for its Network and Edge group in May. This business produced $5.8 billion in revenue in 2024. This strategy seems similar to the company's decision to spin off RealSense, its former stereoscopic imaging technology business, earlier this month. Intel decided to spin RealSense out during former CEO Pat Gelsinger's tenure and the company struck out on its own with $50 million in venture funding. TechCrunch reached out for more information about its plans and timeline for the spinout. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


TechCrunch
25-07-2025
- Business
- TechCrunch
Intel is spinning off its Network and Edge group
In Brief Intel continues to streamline its business. The company plans to spin off its Network and Edge group, which is responsible for making chips for the telecom industry, as originally reported by CRN. Intel will be an anchor investor in the standalone business and will seek outside capital. Intel was rumored to be looking for a buyer for its Network and Edge group in May. This business produced $5.8 billion in revenue in 2024. This strategy seems similar to the company's decision to spin off RealSense, its former stereoscopic imaging technology business, earlier this month. Intel decided to spin RealSense out during former CEO Pat Gelsinger's tenure and the company struck out on its own with $50 million in venture funding. TechCrunch reached out for more information about its plans and timeline for the spinout.