Latest news with #Altera
United News of India
3 days ago
- Business
- United News of India
Intel plans to separate its networking unit amid restructuring move
New Delhi, July 26 (UNI) Intel, a California-based giant chip maker, is planning to separate its networking and communications division into a stand-alone company. Reportedly, the chipmaker also started to identify investors for this purpose. This restructuring move is seen as CEO Tan's another strategy to rejuvenate Intel by selling off its non-core assets and cutting costs by reducing investments and staff. Reportedly, Intel has been planning the divestiture of its network and communications unit since May and is looking to follow the same strategy that the firm used for its Altera division. Intel's Altera Division has a focus on programmable logic devices (PLDs), field-programmable gate arrays (FPGAs), and system-on-chip FPGAs. In an email statement, Intel said, 'Similar to Altera, we will remain as an 'anchor investor' while looking for our future growth prospects.' In April, Intel agreed to sell a majority stake of its Altera Programmable chip business. The network business of Intel produces chips for different telecommunications equipment and generates massive revenue, which accounts for a surge in Intel's total sales in previous years. UNI SAS ARN
Yahoo
4 days ago
- Business
- Yahoo
Intel Plans to Spin Off Its Networking Unit as CEO Looks to Shed Assets
Intel (INTC) is looking to spin off its networking unit as the struggling chipmaker moves to shed assets under the direction of new CEO Lip-Bu Tan, according to a report Friday. Intel has already started the process of courting strategic investors for its Network and Edge group, and notified customers of the move this week, CRN reported. Intel told CRN that it intends to remain an 'anchor investor' in the business. That deal recalls Altera, the programmable chips unit that Intel in April agreed to sell a 51% stake in to a private equity firm. Intel did not immediately respond to Investopedia's request for comment. Tan, who took the helm of Intel in March, has said he would look to cut non-core assets and streamline the business as part of his efforts to engineer a turnaround. His moves so far have also included layoffs, an end to previously planned projects in Germany and Poland, and a slowdown in the already delayed construction of new facilities in Ohio. 'I do not subscribe to the belief that if you build it, they will come,' Tan told investors on Thursday's earnings call, raising some concerns that Intel's cost discipline under Tan could also mean a lengthy recovery and potentially hamper its ability to catch up with competitors. Shares of Intel tumbled nearly 9% Friday after the chipmaker posted a loss. The drop erased most of the stock's gains for the year. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
4 days ago
- Business
- Business Times
Intel to separate networking unit as new CEO Tan overhauls business
[BENGALURU] Intel is planning to separate its networking and communications unit into a stand-alone company and has begun the process of identifying investors, the chipmaker said on Friday (Jul 25), as new CEO Tan Lip-Bu looks to streamline its operations. Tan's plan to rejuvenate the once-iconic chipmaker focuses on shedding non-core assets and reducing expenses by scaling back major investments and cutting workforce numbers. Reuters reported in May that Intel was considering divesting its network and edge businesses, previously called NEX in its financial reports. 'Like Altera, we will remain an anchor investor enabling us to benefit from future upside as we position the business for future growth,' the company said. In April, Intel agreed to sell a majority stake in its Altera programmable chip business to buyout firm Silver Lake at a valuation of about US$8.75 billion, or nearly half of what it had paid for the business in 2015. Tan has been given the challenge of revitalising the chipmaker after years of missteps and high-capital manufacturing strategies led to growing losses, all while the company grapples with establishing a foothold in the burgeoning artificial intelligence market. Intel's shares were down 9 per cent on Friday after the chipmaker warned of exiting chip manufacturing if it failed to secure a major customer. It also reported a surprise second-quarter adjusted loss and forecast a bigger-than-expected loss in the third quarter. In the latest first quarter, Intel made NEX a part of its data centre and PC group and does not report its results as a separate segment. The unit, which makes chips for telecom equipment, generated revenue of US$5.8 billion in 2024, securities filings show. That constituted about 11 per cent of the company's total sales. REUTERS
Yahoo
4 days ago
- Business
- Yahoo
Intel to separate networking unit as new CEO Tan overhauls business
(Reuters) -Intel is planning to separate its networking and communications unit into a stand-alone company and has begun the process of identifying investors, the chipmaker said on Friday, as new CEO Lip-Bu Tan looks to streamline its operations. Tan's plan to rejuvenate the once-iconic chipmaker focuses on shedding non-core assets and reducing expenses by scaling back major investments and cutting workforce numbers. Reuters reported in May that Intel was considering divesting its network and edge businesses, previously called NEX in its financial reports. "Like Altera, we will remain an anchor investor enabling us to benefit from future upside as we position the business for future growth," the company said in an emailed statement. In April, Intel agreed to sell a majority stake in its Altera programmable chip business to buyout firm Silver Lake at a valuation of about $8.75 billion, or nearly half of what it had paid for the business in 2015. Tan has been given the challenge of revitalizing the chipmaker after years of missteps and high-capital manufacturing strategies led to growing losses, all while the company grapples with establishing a foothold in the burgeoning AI market. Intel's shares were down 9% on Friday after the chipmaker warned of exiting chip manufacturing if it failed to secure a major customer. It also reported a surprise second-quarter adjusted loss and forecast a bigger-than-expected loss in the third quarter. In the latest first quarter, Intel made NEX a part of its data center and PC group and does not report its results as a separate segment. The unit, which makes chips for telecom equipment, generated revenue of $5.8 billion in 2024, securities filings show. That constituted about 11% of the company's total sales. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Reuters
4 days ago
- Business
- Reuters
Intel to separate networking unit as new CEO Tan overhauls business
July 25 (Reuters) - Intel (INTC.O), opens new tab is planning to separate its networking and communications unit into a stand-alone company and has begun the process of identifying investors, the chipmaker said on Friday, as new CEO Lip-Bu Tan looks to streamline its operations. Tan's plan to rejuvenate the once-iconic chipmaker focuses on shedding non-core assets and reducing expenses by scaling back major investments and cutting workforce numbers. Reuters reported in May that Intel was considering divesting its network and edge businesses, previously called NEX in its financial reports. "Like Altera, we will remain an anchor investor enabling us to benefit from future upside as we position the business for future growth," the company said in an emailed statement. In April, Intel agreed to sell a majority stake in its Altera programmable chip business to buyout firm Silver Lake at a valuation of about $8.75 billion, or nearly half of what it had paid for the business in 2015. Tan has been given the challenge of revitalizing the chipmaker after years of missteps and high-capital manufacturing strategies led to growing losses, all while the company grapples with establishing a foothold in the burgeoning AI market. Intel's shares were down 9% on Friday after the chipmaker warned of exiting chip manufacturing if it failed to secure a major customer. It also reported a surprise second-quarter adjusted loss and forecast a bigger-than-expected loss in the third quarter. In the latest first quarter, Intel made NEX a part of its data center and PC group and does not report its results as a separate segment. The unit, which makes chips for telecom equipment, generated revenue of $5.8 billion in 2024, securities filings show. That constituted about 11% of the company's total sales.
