FILE PHOTO: A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
(Reuters) - Intel Corp said on Wednesday its manufacturing business will work like a separate unit and will begin to generate a margin, but gave no clear timeline on when it will start scaling up, sending the chipmaker's shares down about 5%.
The company also did not name a new external customer for the business as part of its foundry services, a key element of Intel's turnaround plans wherein it will offer its manufacturing services to other companies including its competitors.
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