Plans include both selling the unit and putting it into a partnership with another company. It is said that Intel has already talked to other companies about this plan. In April it sold 51% of Altera to Silver Lake for $8.75 billion.
Intel is said to have interviewed investment bankers to choose one to manage the divestment process
The NEX Group generated revenue of $5.8 billion last year down from $8.4 billion in 2022. The unit is not succeeding in a market which is increasingly owned by Broadcom and is no longer seen as strategic to Intel’s focus on datacentre and PC. Intel CEO Lip-Bu Tan says he is “refocussing on Intel’s core product franchise.”
In Q1, Intel reported NEX Group revenues as part of its PC and datacentre revenues rather than as a separate unit.
