Of course, that's not quite how the players put it in their press releases... amazing how they can put a positive spin on what is essentially a "distancing" of themselves from the ailing Itanic and it's never ending stream of red-ink.... the obvious key points to note are the comment "Terms of the agreement were not disclosed" and the fact that despite the up-beat press release, if HP really believed in the chip's future, would they be selling off the design division to Intel and paying ($3bn) for the privilege of divesting themselves of said division ?
The pro-Itanic crowd would say that this is simply a recognition that Intel are the silicon company and HP are the systems company... but that's only because that's the load of tripe that Fiorina (HP's CEO) has been feeding the masses since the ill-conceived takeover/merger with Compaq.
Intel Strengthens Investment In Intel® Itanium® Architecture With Hiring Of HP
HP Extends Commitment to Itanium 2-based Integrity Server Leadership, Invests $3 Billion Over Three Years
Of course, that's just my take on it.... ;-)