Yet its foundry business has shown potential for improvement. Intel will turn that business into a separate subsidiary, giving it its own operating board and the ability to raise capital separately. Additionally, the aforementioned deal with AWS could help make Intel's foundry business a top company in its industry.

Intel is turning its foundry business, which manufactures chips for other companies, into an independent subsidiary. The company has revealed its plan in a note to employees from its CEO Pat Gelsinger,

Intel said it's turning its foundry business into an independent unit with its own board and the potential to raise outside capital.