news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

News on August 14,IntelThe company sold its stake in the chip technology giant in the second quarter.ArmAll of the shares of Arm, totaling approximately 1.18 million shares. Based on the average price of Arm stock in the quarter (US$124.34 per share), the transaction brought Intel approximately US$147 million in funds.

Faced with industry challenges, Intel is actively adjusting its strategy in an effort to regain its foothold in the industry it once dominated. Earlier this month, the company released its worst financial report in its 56-year history, causing its stock price to fall by nearly a third.

To get back on track, Intel has announced plans to cut 15,000 jobs and reduce other expenses, and it has also suspended its dividend, which it has paid since 1992.

Despite the additional revenue from the sale of its Arm stake, Intel still reported a net loss of $120 million on its equity investment in the quarter. Intel did not respond to a request for comment.

Arm conducted the largest IPO in 2023 last year. The company is nowSoftBank GroupAs a leader in chip design, Arm licenses its chip design blueprints to the entire semiconductor industry, including Intel.

Although Intel is known for its internally developed designs, its products have become less competitive in the market, where many competitors have adopted products based on the Arm architecture.