07:22 AM EDT, 04/01/2025 (MT Newswires) -- Intel ( INTC ) aims to "redefine" some of its strategy by spinning off non-core assets and focusing on core operations, Chief Executive Lip-Bu Tan said Monday.

As part of its turnaround efforts, the chipmaker needs to improve its balance sheet and replace the engineering talent it has lost, Tan said. Intel ( INTC ) will generate new ideas, providing engineers "freedom" for innovation from within, he said.

Intel ( INTC ) shares were down 0.9% in recent Tuesday premarket activity.