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. Intel will be an anchor investor in the stand-alone business and will seek outside capital.
Earlier in May, Intel was rumored to be looking for a buyer for its Network and Edge group. This business generated $5.8 billion in revenue in 2024.
The move aligns with Intel’s recent strategy, similar to its decision to spin off RealSense, its former stereoscopic imaging technology business, earlier this month. RealSense became independent with $50 million in venture funding during former CEO Pat Gelsinger’s tenure.
Details about the timeline and further plans for the spinout remain under discussion.