Intel Sells Arm Stake Amid Cost-Cutting Efforts
INTCIntel(INTC) Investopedia·2024-08-15 05:10

Key TakeawaysIntel sold its stake in Arm during the second quarter as chipmaker works to cut costs, a filing showed.Intel recently reported a wider-than-expected loss for the second quarter and announced a $10 billion plan to cut costs that includes laying off 15% of its workforce.Analysts have questioned whether Intel's cost-savings plan will be enough to help the chipmaker recover. Intel (INTC) sold its stake in Arm (ARM) as the chipmaker works to bring down costs, according to a Securities and Exchange C ...