The move is designed to give the unit greater independence and allow it the freedom to raise capital from other sources, the company said in the statement.
Intel, the once-dominant chipmaker struggling to revive its business and finances, plans to turn its venture capital arm into a separate fund with a new name.
The chipmaker will continue to be an “anchor investor in the new company”, according to a statement Tuesday. The division, currently known as Intel Capital, has more than US$5 billion ($6.84 billion) in assets.
