Welcome to the Tech Meme Right Home for Tuesday, September 17th, 2024.

I'm Brian McCullough today.

Intel announces a bunch of ways it's hoping to turn its business around sooner rather than later.

Is Open AI about to have its Chatbot's query You?

The whole Tik-Toc divestment case is coming to a head right now, and speaking of

turnarounds, darn it, if Netflix didn't pull its turn around off perfectly.

Hollywood, not so much. Here's what you missed today in the world of tech.

Well, it looks like that board meeting last week resulted in a plan.

Intel says it's going to create a separate entity for its foundry business,

a structure that could help it raise outside funding. Intel stock was up more than 7% in

pre-market trading this morning, quoting CMBC. As part of CEO Pat Gelsinger's effort to turn

around the struggling chipmaker, Intel said in a memo to

employees that it will also sell off part of its stake in Alterra.

Gelsinger said the restructuring would allow the foundry business to, quote,

evaluate independent sources of funding and comes days after Intel's board

met to assess the direction and future of the company. The Foundry Business, which Intel plans to

use to manufacture chips for other customers, has been a big drag on its bottom line with the company spending roughly

$25 billion on it in each of the last two years. Beyond just considering outside

funding Intel is weighing weather to spin off the foundry business entirely possibly into a separate

publicly traded company according to a person with knowledge of the matter who

declined to be named in order to discuss confidential information. With a standalone

operating board and a cleaner corporate structure, the mechanics of a separation become far easier than trying to turn a fully integrated unit into a separate company.

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