Intel Rejects Arm's Bid to Acquire Product Division Amid Financial Struggles

Intel's refusal comes as the company navigates significant financial challenges and explores other strategic options.

Arm Holdings approached Intel to acquire its product division, which includes chips for PCs, servers, and networking equipment.
Intel declined the offer, stating that the product division is not for sale, despite ongoing financial difficulties.
Intel has received multiple takeover proposals recently, including from Qualcomm and Apollo Global Management.
The company is set to receive $8.5 billion in funding from the U.S. government's CHIPS Act to support its turnaround efforts.
Intel is undergoing a major restructuring, including layoffs and the potential spin-off of its foundry and programmable chip divisions.