Bloomberg revealed on Thursday that Intel is exploring ways to withstand a historic downturn, including perhaps breaking up its foundry division and abandoning plans to build new plants.

Bloomberg reported that the chipmaker has spoken with Goldman Sachs and Morgan Stanley regarding a course of action and is in discussions with investment bankers about possible choices. 

Earlier in August, as it battled to overtake competitors in the foundry market, most notably Taiwan's TSMC, Intel halted its dividend and laid off almost 15% of its staff.

Once the top chip manufacturer in the world, Intel struggled to meet the needs of the smartphone and mobile computing industries in the 2000s, as well as heightened rivalry from rivals like Advanced Micro Devices.

Another significant setback for Intel was Apple's decision to quit utilising Intel processors and instead create its own silicon.

The difficulties facing Intel intensified in recent years as a result of NVIDIA's hegemony in artificial intelligence, which further reduced Intel's revenues.

According to the Bloomberg story, Intel has abandoned aspirations for growth in an effort to simplify its operations and is instead thinking of splitting its foundry and product design businesses.

(Sources: investing.com, bloomberg.com)