Friday, 20 March, 2026
Intel to Spin Off Networking Unit Amid CEO Tan’s Cost‑Cutting Overhaul
By Isha
Intel under new CEO Lip‑Bu Tan will spin off its networking and communications division—formerly the NEX unit—into a standalone company and seek strategic investors. Despite generating $5.8 billion in revenue in 2024 (about 11% of total sales), the unit no longer aligns with Intel’s focus on core strengths in PC and data center chips. Intel plans to remain an “anchor investor” in the spinoff while pursuing broader cost reductions and operational simplification.
Read full story at Economic Times