Intel is now seen to have sold its stake in the world's leading chip design firm, Arm Holdings. This sale is seen as one of the steps taken by Intel as a restructuring of their company, and also increases cash flow.
The sale of the stake in Arm led to $147 million in funding to Intel. Intel has recently been seen experiencing a high financial burden, in addition to their products that face competition in the era of mobile devices and AI today.
Previously, Intel had also cut 15,000 employees at their company, and aimed to reduce costs by around $10 billion. Intel is said to have liabilities of around $32 billion as of June 2024.
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