's (NASDAQ: INTC) turnaround under CEO Pat Gelsinger has two core components: one, regain manufacturing leadership by investing heavily in new process nodes and facilities while building out a world-class foundry business, and two, dramatically slash costs.
Intel has taken a variety of steps to bring costs down:
Intel has entirely exited the memory-chip business by selling off its NAND and SSD manufacturing operations and pulling the plug on its Optane memory unit. The company has also given up on Ethernet switching chips, exited the prebuilt server business, and scrapped its Blockscale bitcoin mining chip. None of these were core businesses.
Source Fool.com