I would never bet against that much money and willingness to play dirty. Especially with the US government taking a cut.
They might separate the foundry portion. They might make the Chip Sector a different group. So yeah you could call that breaking it up but overall Intel is too big to fail as the saying goes.
In the next 2-3 years the competition might have gone way past anything Intel is capable of competing with. Laying off a ton of staff as well as all the future R&D they've now recently lost doesn't give me any reason to expect them to magically surpass the competition. It's not like all the competitors are going to just sit there and wait for Intel to catch up.
Intel has more fabs than anybody. That's a huge advantage. Even if they are just making other people's chips at those fabs. The US can't afford to lose that.
