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Intel Sells Its Arm Shares, Reduces Stakes in Other Companies
by Anton Shilov on August 14, 2024 5:00 PM EST Intel has divested its entire stake in Arm Holdings during the second quarter, raising approximately $147 million. Alongside this, Intel sold its stake in cybersecurity firm ZeroFox and reduced its holdings in Astera Labs, all as part of a broader effort to manage costs and recover cash amid significant financial challenges.
Alongside this, Intel sold its stake in cybersecurity firm ZeroFox and reduced its holdings in Astera Labs, all as part of a broader effort to manage costs and recover cash amid significant financial challenges. In addition to selling its stake in Arm, Intel also exited its investment in ZeroFox and reduced its involvement with Astera Labs, a company known for developing connectivity platforms for enterprise hardware. Intel's financial struggles were highlighted earlier this month when the company released a disappointing earnings report, which led to a 33% drop in its stock value, erasing billions of dollars of capitalization.
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