Intel Corp. said Friday it will separate its networking and communications arm into a standalone company and has begun courting strategic investors, while pledging to stay on as an anchor shareholder. The decision marks the first major restructuring step under new Chief Executive Officer Lip-Bu Tan, who has promised to streamline the chipmaker after years of missteps. The business, known internally as the Network and Edge Group (NEX), supplies processors and switches used in data-center and telecom equipment and generated about $5.8 billion in revenue last year, or roughly 11% of Intel’s total sales. Intel did not specify the size of the stake it intends to sell or a timetable for the carve-out. The move extends a broader asset-light strategy. Earlier this month Intel completed the spin-out of RealSense, its depth-sensing camera operation, which raised $50 million from Intel Capital and MediaTek. In April the company sold a 51% interest in its Altera programmable-chip unit to Silver Lake for $4.46 billion. Investors reacted warily to the ongoing overhaul: Intel shares fell about 9% on Friday after the company warned it could exit manufacturing if it fails to land a major foundry customer and projected a larger third-quarter loss. Tan aims to bolster profitability by narrowing Intel’s focus on core markets while tapping external funding to expand peripheral businesses.