Intel (INTC) shares climb into Tuesday’s session after announcing plans to expand its AI chipmaking partnership with Amazon Web Services (AMZN). Furthermore, Intel announced plans to spin off its Intel Foundry business into an independent subsidiary. To talk more about these headlines from the semiconductor company, the Morning Brief team welcomes Moor Insights & Strategy Founder, CEO, and Chief Analyst Patrick Moorhead. states “The biggest and most important, Intel news here was was longer term. If you can get the number one cloud provider to do not just one, but two very custom type of chips for you — one in the foundry and then one a custom server chip — this portends to a very good future,” Moorhead “And you add AWS to a Microsoft (MSFT), who committed to Intel’s leading edge 18A process, this is a very positive view. While the foundry spin in the ink isn’t fully dry on that, it’s not official. This is something that a lot of the customers who are sitting, waiting, and looking to make a decision on Intel could be waiting for.” Moorhead goes on to say that Intel’s partnerships have “reduced risk” and can even “increased confidence for investors” in the long term.
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