Intel sells Arm shares

Intel has sold its 1.18 million Arm share stake for around $145 million as it looks to cut costs and shore up its finances.

Arm shares hit $184 in July after starting out the year at $68.

Intel had liabilities of $32 billion and cash of $11.3 billion at the end of June. It has just announced the laying off of ‘at least’ 15% of its employees – some 15,000 people – to save $10 billion.

The company is still investing heavily in new processes and fabs to overtake TSMC in process technology next year




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