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Intel to Spin Off Its Venture Capital Arm, Intel Capital

Intel Corp announced on Tuesday that it will separate its venture capital and investment arm, Intel Capital, into an independent entity to streamline operations and improve efficiency across the business. While Intel will remain a key investor, the transition is set to be completed by the second half of 2025, with the new company adopting a different name. The existing Intel Capital team will be integrated into the new entity.

David Zinsner, Intel’s interim co-CEO and CFO, described the move as a “win-win scenario,” emphasizing that it would provide Intel Capital with access to new capital sources for growth while allowing both entities to maintain a long-term strategic partnership.

Founded in 1991, Intel Capital manages over $5 billion in assets and focuses its investments across four major tech areas: silicon, frontier technologies, devices, and cloud computing. The announcement came shortly after identity security startup Orchid Security raised $36 million in an early-stage funding round, with Intel Capital as a lead investor.

 

Microsoft Halts Hiring in U.S. Consulting Unit Amid Cost-Cutting Efforts

Microsoft has decided to pause hiring within its U.S. consulting unit as part of a broader effort to reduce costs, according to a report by CNBC on Tuesday. The move is intended to help the tech giant manage its expenses while continuing to prioritize investments in artificial intelligence (AI).

Earlier this month, Microsoft announced plans to invest $80 billion in fiscal year 2025, primarily focused on developing data centers for training AI models and deploying AI and cloud-based applications. To support these efforts, Microsoft has implemented a series of cost-saving measures within its consulting division. This includes halting new hires and refraining from filling open roles. Derek Danois, a consulting executive at Microsoft, informed employees of the decision in an internal memo.

In addition to the hiring freeze, the memo emphasized strict cost management, instructing employees to refrain from expensing travel for internal meetings, encouraging the use of remote sessions instead. The consulting division, part of Microsoft’s broader Customer and Partner Solutions organization, is also reducing marketing and non-billable external resource spending by 35%.

 

PlayStation Portal Adds Cloud Streaming Support for PS5 Games in Latest Update

Sony’s PlayStation Portal, a dedicated handheld for remote play, is receiving a significant update that brings cloud streaming support for certain PS5 games. This update, which was rolled out on Tuesday, is currently available as a beta feature for PlayStation Plus Premium subscribers. The cloud streaming capability allows the PS Portal to function independently, meaning users no longer need to have their PS5 console on standby to play games on the handheld. This new feature opens up a new level of flexibility for PS Portal users, as it extends the device’s capabilities beyond its original purpose as a remote play tool.

Previously, the PS Portal required a constant connection to a PS5 console, even if the player was using the device in another room. This limited its usability, especially for users without a PS5 or those who wanted to play away from their console without leaving it in rest mode. The new cloud streaming feature eliminates this dependency by allowing users to stream more than 120 PS5 games directly from the cloud. Titles such as Ghost of Tsushima, Marvel’s Spider-Man: Miles Morales, and Ratchet & Clank: Rift Apart will be available for streaming on the PS Portal as part of this update.

While the cloud streaming feature is still in beta, it marks a substantial improvement in the functionality of the PS Portal, making it more versatile for gamers. As of now, it’s available exclusively to those with a PS Plus Premium subscription, a service tier that offers a variety of additional benefits such as access to game trials and a library of classic titles. The update enhances the overall value of the PS Portal by providing more options for gaming without the need for physical proximity to a console.

Sony’s move to integrate cloud gaming with the PS Portal also highlights the growing importance of cloud-based gaming in its strategy. With this new functionality, Sony is making it easier for players to access and enjoy a wide range of PS5 titles on the go, without the limitations of traditional console gaming. If the beta proves successful, the feature could become a cornerstone of the PS Portal, offering even more flexibility and convenience to PlayStation users.