Reported 2 months ago
Intel Corporation has sold its stake in chip designer Arm Holdings as part of its strategy to cut costs and restructure after experiencing significant losses. The sale, which involved 1.18 million shares, raised approximately $147 million but came amid a challenging period for Intel, which is facing a net loss of $120 million on equity investments and a reported job cut of 15,000 positions. The company is attempting to regain its footing in a competitive semiconductor market.
Source: YAHOO