Intel sold 1.18 million shares in British chip designer Arm Holdings, generating approximately $146.7 million in revenue from this sale. The sale was based on the average share prices during the April-June period and is seen as part of Intel’s strategy to reduce costs in the chip sector and optimize revenue sources.
Intel’s Restructuring Moves in Artificial Intelligence
The company has entered a comprehensive restructuring process to increase its competitive strength in the artificial intelligence chip market. This restructuring includes a 15% reduction in the workforce and the suspension of dividend payments. Despite these moves leading to a more than 59% loss in company shares this year, Intel, under the leadership of CEO Pat Gelsinger, aims to regain a competitive advantage in the sector by accelerating efforts to develop and expand production capacity for artificial intelligence chips. Intel’s strategic steps are considered significant developments towards regaining strength and increasing market share in the advanced technology field.