Intel once saw cash flow of $10 billion per year. Those days are long gone—and there doesn't appear to be much hope for a turnaround.

In an interview with CRN, Sandra Rivera (pictured) said Intel is sticking with its original plan of selling a smaller stake in the company, before spinning it off via an initial public offering in 2026 at the latest.

Intel is considering breaking up amid struggles and declining market position. Morgan Stanley has been hired to protect against activist investors, with rumors of Qualcomm interest. Investors face uncertainty as Intel’s future direction remains unclear.

Sandra Rivera emphasized that Intel has always planned to sell a stake in Altera rather than fully divesting from it, to take the company public by 2026.