Intel’s big move is to spin off its chipmaking business into separate unit as turnaround takes even longer

Intel is spinning off its chipmaking business as part of a long-term plan to reduce losses and convince potential customers that it remains a leader in chip design, capable of manufacturing cutting-edge chips. Monday’s announcement that Intel Foundry will become an independent subsidiary with “clearer separation and independence” from Intel signals that the troubled chipmaker is taking the necessary steps to become profitable and is on the path to delivering on its promised turnaround.