Intel Divests Stake In Nvidia Rival Arm Holdings As Part Of Restructuring Efforts: Analyst Highlights 'Renewed Focus On Liquidity And Efficiency'

Quick Summary:

The sale is estimated to have brought in around $146.7 million, based on the average stock price of Arm between April and June.“This looks to be consistent with the restructuring plan and the renewed focus on liquidity and efficiency that [CEO Pat] Gelsinger laid out from the last conference call,” Benchmark Co analyst Cody Acree told Reuters.

Intel Corp.(NASDAQ:INTC) has sold its stake in Arm Holdings (NASDAQ:ARM), a British chip firm, as part of its ongoing restructuring strategy.

What Happened: Intel, which is currently undergoing a major restructuring, has offloaded its 1.18 million share stake in Arm Holdings, as per a regulatory filing on Tuesday.

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Category: Technology

Markets: United StatesTaiwan

Topics: Tech Kaustubh Bagalkote US4581401001 Benzinga US8740391003 Equities ARM Markets News NVDA US67066G1040 INTC TSM

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Published On: 2024-08-14 @ 07:26:20 (11 hours ago)

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