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    Phoenix from Marvel Rivals Drew Me Back from Overwatch 2

    Phoenix from Marvel Rivals Drew Me Back from Overwatch 2

    Honkai: Star Rail Launches Fate/stay night Collaboration with Free Character; No Boosted 4-Stars or English VO Planned

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Home Virtual Reality

Intel Divests Arm Shares and Lowers Investments in Various Companies

by LevelOneNews
August 14, 2024
in Virtual Reality
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In the second quarter, Intel made a notable financial move by selling off its full stake in Arm Holdings, bringing in around $147 million. This step was part of a larger strategy where Intel also let go of its share in the cybersecurity outfit ZeroFox and reduced its involvement with Astera Labs. The overarching goal here was to cut costs and recover cash in the face of ongoing financial difficulties.

A recent SEC filing detailed the sale of Intel’s 1.18 million shares in Arm Holdings. Even with the $147 million boost from this sale, Intel still reported a net loss of $120 million for its equity investments this quarter, which contributed to an overall $1.6 billion loss during this period.

Besides divesting from Arm, Intel also pulled out of ZeroFox and scaled back its stake in Astera Labs, a company that specializes in connectivity platforms for enterprise hardware. These decisions align with Intel’s broader strategy to slash expenses and stabilize its finances amidst tough market conditions.

Despite selling its stake, Intel’s initial investment in Arm was likely influenced by smart strategic motives. Arm Holdings plays a crucial role in the semiconductor world, powering most mobile devices with its designs, something Intel no doubt has a vested interest in. The relationship doesn’t end there; Intel and Arm are also collaborating on data center platforms specifically designed for Intel’s 18A process technology. For Arm, Intel is regarded as a potential licensee of its tech and a valuable partner for others licensing Arm designs.

Investment in Astera Labs also came with strategic reasoning. Astera Labs provides components like smart retimers, smart cable modems, and CXL memory controllers—essential products for data centers where Intel aims to expand its datacenter CPU sales.

Earlier this month, Intel’s financial woes were laid bare with a disappointing earnings report that saw a 33% plunge in its stock value, wiping out billions in market capitalization. In response, Intel unveiled plans to eliminate 15,000 jobs and implement various cost-cutting measures. It also suspended its dividend, underscoring the seriousness of its efforts to conserve cash and work towards recovery. The decision to sell Arm stock was likely influenced by the urgent need to quickly stabilize finances.

Tags: IntelInvestmentsDivestsArmSharesLowersCompanies
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