Intel, restructuring of chip production announced his decision and the US government Up to $3 billion in support for chip production took it. The company aims to improve its financial position and increase its stock value.

Intel CEO Pat Gelsingerannounced the creation of a new independent subsidiary called Intel Foundry. The subsidiary will have its own board of directors and will report independently. It has postponed construction of new factories in Poland and Germany for two years, but will continue construction of facilities in the United States. It also plans to sell part of its stake in Altera and reduce much of its global real estate portfolio.

Intel’s strategy to offset $7 billion loss

The company will be operational in 2023 $7 billion loss from chip production announced and posted a loss of $1.6 billion in the first quarter of 2024. There were also plans to lay off 15,000 employees. Gelsinger stated that this transformation is one of Intel’s biggest changes in the past and that he believes it will be successful.

Intel, new 18A chip production It hopes to reduce its losses through this process. From next year through the 18A process for customers such as Microsoft and Amazon will continue to produce chips.