Intel could sell up to 49% of its foundry business to external investors, but a full IPO or spin-off is unlikely

In recent months, we heard numerous rumors about Intel’s alleged plans to spin off its Intel Foundry manufacturing arm and then sell a significant stake to potential customers, or the U.S. government’s supposed intention to force Intel to spin off Intel Foundry and then make TSMC buy a 49% stake in Intel’s U.S. manufacturing operations. None of this has materialized, and it’s possible that it never will. However, at a recent industry event, Intel’s Chief Financial Officer said that the company could…