Intel Sells $147 Million Stake In Arm

In a regulatory filing on Tuesday, Intel revealed it has sold its entire stake in Arm Holdings, generating an estimated $147 million. 'The company also sold its stake in ZeroFox, a cybersecurity company, and reduced stake in Astera Labs, a developer of connectivity platforms for enterprise,' adds Tom's Hardware. From the report: Intel's recent regulatory filing revealed that it no longer holds the 1.18 million shares of Arm it owned three months ago, as noticed by Bloomberg. The average price of Arm's stock during this period was $124.34 per share, leading to the estimated $147 million pay-out. The company also reduced stake in Astera Labs (which has always been seen as a strategic investment for Intel to ensure steady supply of things like PCIe retimers) and got rid of its stake in ZeroFox. Despite this, Intel reported a net loss of $120 million on its equity investments for the quarter.

Read more of this story at Slashdot.