Intel Sells All Arm Holdings Shares in Q2, Raises $146.7M

TapTechNews August 14th news, according to WCCFtech, a regulatory filing shows that Intel sold all of its shares in Arm Holdings in the second quarter.

Intel submitted a Form 13-F to the US Securities and Exchange Commission, indicating that it had disposed of all the Arm Holdings shares it held, which totaled 1.18 million shares.

According to Bloomberg, Intel raised approximately $146.7 million through this sale (TapTechNews note: currently about 1.053 billion yuan).

After Intel announced its financial results in August, it stated that due to the reduction in traditional data center semiconductor spending and the shift of focus to AI chips that lag behind competitors such as NVIDIA, it will lay off more than 15% and suspend dividends.

Intel claims that it is focused on developing advanced AI chips and contract manufacturing. But under the leadership of CEO Pat Gelsinger, promoting the foundry business has increased Intel's costs and compressed profit margins, forcing it to cut costs.

Related reading:

Intel's second-quarter revenue was $12.8 billion, turning from profit to loss year-on-year

Intel announces 15,000 layoffs, CEO Pat Gelsinger: It's painful and very difficult