CEO Pat Gelsinger said in a message to employees late Monday that Intel will create an AI fabric chip for Amazon's cloud services division at its foundry business, a struggling division that he said would become a subsidiary of Intel.
Intel stock surging on plans to make AI chips for Amazon and to turn foundry into subsidiary
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About 25% of that total would involve building and land, while roughly 70% would go to equipment, said Pat Gelsinger, CEO of Intel.
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