Splitting up Intel's fabrication and design businesses would it make similar to AMD, the stock which is up 45x since 2015.

Intel's fabrication business needs more volume, so it can increase R&D spending and capital expenditure, it can get this volume as a merchant fab.

Intel's design business doesn't need to be held back by Intel's fabrication delays. I imagine designers at Intel would prefer to compete with AMD on the same playing field--TSMC's latest node.