While Intel led the chips sector for decades, it’s been on a rough road since the boom in technology spending during the Covid-19 pandemic. The stock is down almost 60% over the

Intel says that it plans to spin off its corporate venture arm, Intel Capital, into a standalone fund, with Intel as an "anchor investor."

Intel Capital has $5 billion in assets and a portfolio of 170 companies. Intel says it will remain an "anchor investor."

The chip maker said it will remain an investor in Intel Capital, founded in 1991 with over $5 billion in assets under management.

Intel the chips maker that has fallen behind rivals AMD and Nvidia is separating its venture capital arm into a stand-alone fund. Intel is unusual because it both designs chips and manufactures them.

Intel said on Tuesday that it plans to spin off Intel Capital, its venture capital wing, into an independent firm