TMSC

Intel is spinning off its Network and Edge (NEX) division after posting a $2.9B loss, cutting 15% of its workforce, and pivoting to an AI-first strategy. The standalone NEX business will focus on networking and edge innovation, with Intel retaining an anchor investor role. The move underscores Intel’s restructuring to prioritize x86 and AI while seeking agility to compete with NVIDIA, AMD, and Broadcom in high-performance networking and 5G infrastructure.