Intel sells stake in Arm.

Intel has sold its stake in Arm Holdings, a cybersecurity company, and reduced its stake in Astera Labs. The sale of its stake in Arm Holdings generated $216 million for Intel, which is a small amount compared to the $2.3 billion loss the company experienced in the second quarter. This move is part of Intel's efforts to cut costs, which includes job cuts and expense reductions. Intel's struggles are further exacerbated by losing market share to competitors like AMD and Apple. To stabilize its financial position, Intel plans to eliminate 15,000 jobs and suspend its dividend. [Extracted from the article]