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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.
Tan’s plan to rejuvenate the once-iconic chipmaker focuses on shedding non-core assets and reducing expenses by scaling back major investments and cutting workforce numbers.
Reuters reported in May that Intel was considering divesting its network and edge businesses, previously called NEX in its financial reports.
