Intel Sells Arm Stake Amid Major Restructuring

The tech giant raises $147 million as it navigates financial challenges and intense competition.

Intel sold 1.18 million shares in Arm Holdings, raising approximately $147 million.
The sale is part of Intel's $10 billion cost-cutting initiative, which includes laying off 15,000 employees.
Intel's stock has plummeted nearly 60% this year, reflecting ongoing financial difficulties.
The company is shifting focus to AI chips and for-hire manufacturing to regain its competitive edge.
Despite the sale, Intel still holds stakes in companies like Astera Labs, Joby Aviation, and MariaDB.