Struggling chipmaker Intel is taking another step in its efforts to retool itself as it said it's going to spin out its venture-capital arm.
Intel said on Tuesday that it plans to spin off Intel Capital, its venture capital wing, into an independent firm. The move will allow Intel Capital to raise money from outside investors, the company said, and will likely bring with it a new name.
Chipmaker Intel Corp said on Tuesday that it will separate its venture capital and investment arm, Intel Capital, into a standalone company, to focus on enhancing efficiency across the business.
The chip maker said it will remain an investor in Intel Capital, founded in 1991 with over $5 billion in assets under management.
Intel says that it plans to spin off its corporate venture arm, Intel Capital, into a standalone fund, with Intel as an “anchor investor.”
I believe Intel is now too undervalued despite recent struggles, with long-term potential driven by AI advancements and cost-cutting measures. Intel's Q3 FY2024 results were disappointing, but the market's pessimism offers a buying opportunity for long-term investors. Intel's AI-specific PCs and new Xeon 6P CPUs should boost revenues and likely profitability, aiding its turnaround plan.
Intel (INTC) concluded the recent trading session at $19.20, signifying a +0.26% move from its prior day's close.
When big names like Intel Corp INTC, Airbnb Inc ABNB, and Joby Aviation Inc JOBY land on JPMorgan's short ideas radar, it's worth a closer look.
One area where Intel (INTC -3.67%) has seriously dropped the ball has been artificial intelligence (AI). Nvidia essentially owns the market for AI accelerator chips, and AMD is at least competitive with its Instinct line of data center graphics processing units (GPUs).
Semiconductor designer Nvidia (NVDA -3.00%) has been crushing the stock market in recent years. As a leading hardware provider for the artificial intelligence (AI) boom, Nvidia's sales and profits are soaring.
Intel (INTC -4.33%) stock is losing ground in Friday's trading. The semiconductor company's share price was down 4.6% as of 11:40 a.m.
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