As (NASDAQ: INTC) works toward scaling its foundry business, regaining its manufacturing edge, and winning back market share in its core CPU markets, the company hasn't been shy about disposing of non-core assets. Intel has exited a slew of businesses since CEO Pat Gelsinger took the helm in 2021, including memory chips, mini-PCs, and Ethernet switching chips.

In some cases, Intel has taken outside investment for non-core businesses in an effort to unlock value for its shareholders. Mobileye, a designer of chips that enable autonomous driving that Intel acquired in a $15.3 billion deal, was successfully taken public in 2022. In June of this year, Intel sold a 20% stake in IMS Nanofabrication GmbH to Bain Capital. IMS develops specialized equipment for manufacturing semiconductors.

Intel announced yet another step last week to separate out a major business unit. Beginning in 2024, Intel's Programmable Solutions Group, or PSG, will begin operating as a stand-alone business within Intel. The company intends to take PSG public within a few years, giving it independence and resources that it doesn't have as a tightly integrated part of Intel.

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Source Fool.com