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Intel Interim CEOs Hints At Selling Foundry Business,

  • Intel's interim CEOs, Michelle Johnston Holthaus and David Zinsner, have admitted that the company may be forced to sell its Foundry business if a new chip-making technology does not succeed.
  • The spin-off of Intel Foundry was put in doubt after the Biden administration awarded $7.86 billion in federal funding to advance Intel's manufacturing and semiconductor packaging projects.
  • The government subsidies would restrict Intel's ability to sell stakes in its chip-making unit if it became an independent entity.
  • The decision to separate Intel's manufacturing and product-design operations will be made by the chipmaker's next CEO.

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