Intel is spinning off its chip-making business as part of its plans to reverse billions in losses and a tumbling stock price. In an announcement on Monday, Intel CEO Pat Gelsinger said the Intel Foundry will become an independent subsidiary with “clearer separation and independence” from Intel.
With the change, the Intel Foundry will have its own operating board and report its financial earnings separately from Intel. Intel will also stop work on the factories it’s building in Poland…
