<ul><li>Intel shares closed higher following a new plan to spin off its AI-focused foundry business into an independent subsidiary capable of raising outside funding.</li><li>Intel is separating its AI-focused foundry business into an independent subsidiary — a strategic move that could help revitalize the company.</li><li>Intel Foundry will become an independent subsidiary with its own board of directors and the ability to raise outside capital.</li><li>The move to spin off Intel Foundry marks an escalation in competition with its rival Nvidia in the AI chip-making market.</li></ul>

Intel shares jump 6% after plan to spin off AI chip-making arm

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