The Intel semiconductor giant will not turn his risk arm, Intel Capital, after all.
During the Intel First Quarter Gain call on Thursday, Intel CEO, Lip-Bu Tan, said the company has reversed its decision to turn its risk arm of 34 years. Instead, Intel Capital will continue to be internal and continue to invest with Intel’s interests in mind.
“We have made the decision not to reject Intel Capital, but to work with the team to monetize our existing portfolio, while being more selective in new investments that support the strategy we need so that our balance is healthy and start the disappointment process this year,” he said so on the call.
It is a change marked in Intel’s plans for Intel Capital.
Intel announced in January that Intel Capital was going to attack on his own. Shortly after the announcement, Intel Capital Vice President and Managing Director Senior Mark Rostick told TechCrunch that the company had considered turning several times over the years.
“We thought our history deserved attention from external investors,” Rostick told TechCrunch. “We had done it really well, even while, you know, much about the company’s industry has not been able to make exits, we had had something successful doing that, so we feel we could position ourselves as a bit atypical there.”
Spinning out conversations became more serious last year, and according to the reports they had done it Intel Pat Gelsinger’s former CEO Gels. The original plan was that Intel Capital became independent for the third quarter of this year; Intel would remain an investment partner.
Now, it seems that it will not happen.
