"Today's announcement reflects our commitment to sharpening our focus, lowering our expense structure and strengthening our balance sheet."
"The sale should still provide some cash flow to Intel at a critical juncture."
Intel has sold its 51% stake in chip-maker Altera for $4.46 billion, marking a significant step under new CEO Lip-Bu Tan to stabilize the company. This sale, expected to close later this year, showcases Intel's strategy to sharpen its focus and improve its financial health, particularly after acquiring Altera for $16.7 billion in 2015. Despite the decreased valuation, the cash flow from this sale is crucial for Intel as it navigates a challenging period following the previous CEOâs tenure and aims to streamline operations moving forward.
Read at Engadget
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