Intel plans to introduce a self-rescue plan, Citigroup proposes to exit the foundry business
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When formulating its future strategy, Intel accepted Citigroup's advice to consider exiting the foundry business to optimize shareholder value. Despite the company's commitment to foundry, Citigroup analysts believe that the current stage is the best time for the company to exit. Intel's CFO stated that foundry revenue is expected to grow in the coming years, however, the company still faces competition from industry leader TSMC. Management will propose a cost-cutting self-rescue plan at the board meeting
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