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Intel Sells Arm Holdings Stake Amid Financial Woes: A $147 Million Band-Aid on a Billion-Dollar Bleed
Intel has offloaded its entire stake in Arm Holdings for $147 million amidst financial woes, reporting a $120 million net loss on equity investments for the quarter. Even with this sale, Intel’s stock value plummeted by 33%, forcing them to cut 15,000 jobs and suspend…
Hot Take:
Intel’s latest strategy: When in doubt, sell your shares and hope for the best. Who knew that a chipset giant would take a page out of the yard sale playbook?
Key Points:
- Intel sold its entire stake in Arm Holdings, raising $147 million.
- Additional divestments include ZeroFox and reduced investments in Astera Labs.
- Intel reported a $120 million net loss on equity investments for the quarter.
- The company is grappling with a larger $1.6 billion loss.
- Intel announced plans to cut 15,000 jobs and suspended its dividend.
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