Intel to separate networking unit as new CEO Tan overhauls business

(Reuters) -Rintel plans to divide the network and communication unit into an independent company, and the chipset said on Friday that he wanted to facilitate the activities of the new CEO Lip -Bu Tan.

TAN’s plan to rejuvenate the iconic chip manufacturer once focuses on shedding non -core assets and reducing large investments and reducing the expenses by cutting labor numbers.

Reuters reported that In May, Intel was considering displacement of his previously called Nex in his financial reports, and the edge businesses.

“Like Altera, we will remain as an anchor investor that allows us to benefit from the future while positioning it for future growth.” He said.

In April, Intel agreed to purchase almost half of the things he paid for business with a value of about 8.75 billion dollars of Silver Lake in the Altera programmable chip business.

After years of wrong steps and high capital production strategies, Tan was given the difficulty of reviving the chip producer, causing increasing losses, while the company is struggling to establish a basis in the developing AI market.

Intel’s shares fell 9% on Friday after warning the chip production to leave the chip production if the chip manufacturer could not secure a large customer. In addition, a surprise reported a second quarter -set loss and a larger loss than expected in the third quarter.

In the first quarter, Intel made Nex a part of the data center and PC group and does not report its results as a separate segment.

Securities files, telecom equipment for the unit, 2024’te $ 5.8 billion revenue. This made up about 11% of the company’s total sales.

(Reporting by Arsheeya Bajwa in Bengaluru;