Intel's shares surged 8 after announcing plans to restructure its foundry business as an independent unit with a dedicated board and the potential to raise external capital. Intel will sell a portion of its stake in Altera and possibly spin off the foundry business into a separate public company. Intel has seen a 60 decline in value and faced sharp competition from Nvidia in the AI chip market. The foundry business also paused fabrication projects in Poland and Germany but secured $3 billion in funding from the U.S. government for a defense collaboration. Intel further extended its AI chip partnership with Amazon Web Services.