Intel May Spin Off Foundry Division

Intel is reportedly considering spinning off or selling its foundry division, which has led to a nearly 9% rise in its stock despite a 60% drop this year. The company is exploring various options, including separating its flagship product business from its manufacturing unit and scrapping some factory projects. Intel's market value has significantly dropped, with shares falling to their lowest levels since 2013. The resignation of board member Lip-Bu Tan may be tied to these spin-off plans. Investors see potential relief in these moves as Intel struggles to compete with industry leaders like Nvidia and AMD. The company's recent disappointing quarterly results, workforce layoffs, and halted dividend have further exacerbated its financial woes.