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.

In a way, Intel just reported its best quarter in years. But given the harsh realities the chip maker is facing, that’s no longer enough. Strong shipments of personal computers by manufacturers lookin

Intel Corp. tumbled in premarket trading after Chief Executive Officer Lip-Bu Tan sparked concerns that he was more focused on cost cutting than restoring the chipmaker’s technological edge.

Intel warns it may halt development of its 14A chip, signaling an end to US chipmaking dominance and increasing reliance global leaders like TSMC.

Analysts think Intel’s commentary signaled openness to cutting its foundry business later on, but for now there’s uncertainty around the company’s future.

The Silicon Valley chip company, which has been struggling, quantified the job cuts it is making as it seeks to turn its business around.

Intel Corp. is shedding thousands of workers and cutting expenses as its new CEO works to revive the struggling chipmaker's fortunes