Intel Foundry Business To Become a Subsidiary | The Gestalt IT Rundown: September 18, 2024

Gestalt IT Rundown

We have talked at length this year about Intel's efforts to turn the ship and add more profitability to the ledger. One of the crown jewels in that portfolio is the foundry business. It has been the recipient of a large amount of government funding through the CHIPS Act. But it is also playing catch up with TSMC and others. New broke yesterday that Intel has announced that the foundry business will be spun off into separate susidiary entity. The new unit will have it's own board and be free to seek outside funding, perhaps even going public at some point. Intel stock jumped 8% in after hours trading on the news. This follows a long string of changes for the company during Pat Gelsinger's tenure.

Time Stamps:

0:00 - Welcome to the Rundown

0:55 - OpenAI and o1

3:22 - Fortinet Suffers Data Breach (Again)

6:18 - Salesforce, NVIDIA get together to develop AI-powered avatars.

9:35 - Mastercard Acquires RecordedFuture

12:17 - HPE Pursues $4 Billion in Damages

14:36 - Kubecost Acquired by IBM

18:56 - Intel Foundry Business To Become Subsidiary

28:59 - The Weeks Ahead

30:41 - Thanks for Watching

Hosts:

Tom Hollingsworth: https://www.linkedin.com/in/networkingnerd/

Jon Swartz: https://www.linkedin.com/in/jonswartz/

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