Intel's missed AI opportunity might prompt it to pump the brakes on its $32 billion Magdeburg project and sell Altera to keep the lights on

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The Magdeburg chip fab project set Intel back up to $32 billion.

But as it now seems, the project might be canceled or put on pause as Intel restrategizes.

Intel logo

Reports indicate that Magdeburg’s local government might decide to take on the project if Intel pulls out.

This comes after the company reported a 1.6 billion loss during its latest earnings call.

The strategic plan may also include the proposal to sell Intel’s programmable chip business, Altera.

The chipmaker acquired Altera in 2015 and has been part of its market strategy since.

Intel reorganized its business earlier this year by splitting the foundry business from its design ventures.