Can Intel come back to life?

Currently the worst-performing Dow Jones $DJI stock, down 57% this year, Intel started the week with a big win.

* On Monday, the company confirmed it had secured up to $3B in grants from the Pentagon to manufacture chips for the U.S. military.

Next, Intel announced a major restructuring of its Foundry business, creating an independent subsidiary which would enable it to raise outside funding and establish its own operating board.

* With Intel’s market cap at $93B, this deal would mark the largest tech acquisition in history.

* While no formal offer has been made and the deal remains uncertain, it certainly raises big questions about Intel’s future direction.