While Intel led the chips sector for decades, it’s been on a rough road since the boom in technology spending during the Covid-19 pandemic. The stock is down almost 60% over the

Intel says that it plans to spin off its corporate venture arm, Intel Capital, into a standalone fund, with Intel as an "anchor investor."

Intel’s interim co-chief executive, David Zinsner, said spinning off its venture arm was a “win-win scenario as it provides the fund with access to new sources of capital to expand its franchise while allowing both companies to continue benefiting from a productive long-term strategic partnership”.