In a move to revitalize the company's fortunes, Intel's new CEO Lip-Bu Tan has announced plans to spin off assets that aren't core to the semiconductor giant's mission. Speaking at the Intel Vision conference this week, Tan revealed the company's strategy to refocus on its core business, but stopped short of providing specific details on what assets would be affected.

Tan's announcement marks a significant shift in Intel's approach, as the company seeks to regain its footing in the highly competitive semiconductor market. The spin-off plan is likely to be a key component of Tan's efforts to streamline Intel's operations and improve its financial performance. However, the lack of clarity on what constitutes "core" and "non-core" assets has left many wondering which parts of the business will be impacted.

In addition to the restructuring plans, Tan also announced that Intel will launch new products, including custom semiconductors designed specifically for customers. This move is seen as a bid to regain market share and stay competitive in the face of rising competition from rival chipmakers. The custom semiconductor offering is likely to be a key differentiator for Intel, as it seeks to provide tailored solutions to its customers.

Notably, Tan made no mention of breaking up the company, a strategy that had been floated in recent months as a potential turnaround plan. This decision is likely to be seen as a vote of confidence in Intel's ability to adapt and evolve as a single entity. The company's decision to stick together is also a testament to Tan's commitment to finding a solution that works for all stakeholders, rather than resorting to a breakup.

Tan's appointment as CEO comes at a critical juncture for Intel, which has struggled to maintain its market share in recent years. The company's former CEO, Pat Gelsinger, was forced out of the role in December, and Tan's predecessor had been a member of the company's board of directors before resigning in August. Tan's experience and leadership will be crucial in navigating Intel's restructuring efforts and driving the company's growth strategy forward.

As Intel embarks on this new chapter, the industry will be watching closely to see how the company's plans unfold. With the semiconductor market expected to continue growing in the coming years, Intel's ability to adapt and innovate will be critical to its success. Tan's vision for the company's future will be closely scrutinized, and his ability to execute on these plans will ultimately determine Intel's fate in the highly competitive tech landscape.

TechCrunch has reached out to Intel for comment, but the company has yet to respond. As more information becomes available, we will continue to provide updates on Intel's restructuring plans and their implications for the industry.