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Intel Weighs Splitting Businesses as Financial Losses Mount

Intel Weighs Splitting Businesses as Financial Losses Mount

Intel is considering splitting its chip design and manufacturing businesses as it faces significant financial losses and investor pressure.

With a $1.61 billion net loss in Q2 2024 and a 26% drop in stock price, Intel is also re-evaluating future projects and potential factory cancellations. CEO Pat Gelsinger is optimistic about upcoming products like "Lunar Lake," but layoffs of 15,000 employees and cost-cutting measures have drawn scrutiny from lawmakers. 

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