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Intel sells stake in Arm, estimated to raise $147 million as part of business turnaround
Intel lost $1.6 billion in its second quarter
Intel's recent regulatory filing revealed that it no longer holds the 1.18 million shares of Arm it owned three months ago, as noticed by Bloomberg. Intel's struggles are compounded by the loss of unit and revenue market share to competitors, such as AMD, which uses the x86 instruction set architecture, and Apple, which uses the Arm ISA. Arm Holdings, majority-owned by Japan's SoftBank Group, is a key player in the semiconductor sector, which designs are found in the majority of smartphones and tablets.
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