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Intel sells stake in UK chip designer Arm amid company-wide restructuring and cost cuts

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Intel sells stake in UK chip designer Arm amid company-wide restructuring and cost cuts

A sign is posted in front of Intel headquarters on August 01, 2024 in Santa Clara, California. 

Justin Sullivan | Getty Images News | Getty Images

Intel has sold its 1.18 million share stake in British chip firm Arm Holdings, according to a

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, as the California chip designer shores up its balance sheet amid intense competition. 

The sale, disclosed on Tuesday, likely raised Intel nearly $147 million, based on Arm’s average…

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