Intel and Amazon's AWS said on Monday they would expand their collaboration, including a co-investment in custom chip designs, under a multi-year, multi-billion-dollar framework. Intel's shares were up 9% in extended trading.

Intel Corporation INTC recently announced that it had extended its collaboration with Amazon Web Services, Inc. (AWS), a wholly-owned subsidiary of Amazon.com AMZN. The collaboration involves co-investment by the companies in custom chip designs under a multi-year,

Intel Corp. says it will spin off its chip fabrication business as part of its ongoing plan to put the brakes on a yearslong decline, stem billions of dollars in losses, and prop up its tumbling stock price.