HomeBusinessIntel would participate in consortium to invest in Arm Ltd -Intel CEO

Intel would participate in consortium to invest in Arm Ltd -Intel CEO

SAN FRANCISCO : Intel Corp Chief Executive Pat Gelsinger on Thursday informed Reuters that Intel would have an interest in taking part if a consortium emerges to personal the British semiconductor and software program design firm Arm Ltd.

He stated there had been discuss in the trade about forming a consortium even earlier than Nvidia Corp proposed to purchase Arm from SoftBank Group Corp. That deal, valued at up to $80 billion, formally collapsed final week. SoftBank Group Corp cited regulatory hurdles and stated it can search to record the corporate.

Gelsinger stated Intel would be pleased to see Arm do an IPO or be owned by a consortium.

“We’re not big users of Arm, but we do use Arm. We’re going to get to be bigger users of Arm as we make it part of our IFS (foundry business) agenda as well,” he informed Reuters on the sidelines of Intel’s Investor Day. “So if a consortium would emerge, we would probably be very favorable to participate in it in some manner.”

He additionally stated that the acquisition of Tower Semiconductor would not change Intel’s European funding plans.

Earlier this week Intel introduced it’s shopping for Israeli chipmaker Tower for $5.4 billion, giving it entry to extra specialised manufacturing because it positions to make the most of hovering semiconductor demand.

(Reporting By Jane Lanhee Lee; Editing by David Gregorio)

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