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Bloomberg

Arm Holdings approached Intel Corp about potentially buying the ailing chip maker’s product division, only to be told that the business is not for sale, according to a person with direct knowledge of the matter.
In the high-level inquiry, Arm did not express interest in Intel’s manufacturing operations, said the person, who asked not to be identified because the discussions were private.
Intel has two main units: a product group that sells semiconductors for personal computers, servers and networking equipment, and another that operates its factories.
Representatives for Arm and Intel declined to comment.
Intel, once the world’s largest chip maker, has become the target of takeover speculation since a rapid deterioration of its business this year.

The Santa Clara, California-based company delivered a disastrous earnings report last month – sending its shares on their worst rout in decades – and is slashing 15,000 jobs to save money. It is also scaling back factory expansion plans and halting its long-cherished dividend.
As part of its turnaround efforts, Intel is separating the chip product division from its manufacturing operations. The move is aimed at attracting outside customers and investors, but it also lays the groundwork for Intel to be split up – something the company has considered, Bloomberg reported last month.
Arm, which is majority-owned by SoftBank Group Corp, makes much of its revenue selling chip designs for smartphones.
But Arm chief executive Rene Haas has sought to broaden its reach outside that industry. That includes a push into personal computers and servers, where its chip designs are going up against Intel’s. Though Intel does not have the technological edge it once held, the company remains dominant in those markets.

Combining with Intel would help Arm’s reach and kick-start a move toward selling more of its own products. The company currently licences technology and designs to customers, who then turn them into complete components.
Arms client list includes the biggest names in technology, such as Amazon.com, Qualcomm and Samsung Electronics.
Under Haas, the company has moved more in the direction of offering fully formed products – potentially putting it in competition with its licensees.
Based in Cambridge, England, Arm only has a fraction of the revenue of Intel. But its valuation has soared since an initial public offering last year and now stands at more than US$156 billion.
Investors see Arm as a beneficiary of the artificial intelligence spending boom, especially as it moves further into data-centre chips. Arm also has the backing of Japan’s SoftBank, which owns an 88 per cent stake, potentially giving the company additional financial clout.

Intel, in contrast, has lost more than half its value this year and has a current market capitalisation of US$102.3 billion.
Still, Intel has other options to consider. Apollo Global Management offered to make an investment in the company, Bloomberg reported this week. The firm indicated in recent days that it would be willing to put inasmuch as US$5 billion, marking a vote of confidence for Intel chief executive Pat Gelsinger.
Intel also plans to sell part of its stake in semiconductor maker Altera Corp to private equity investors. That business, which the chip maker bought in 2015, was separated from Intel’s operations last year with the goal of taking it public. Speculation of a Qualcomm takeover boosted Intel shares in the past week.


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Semiconductors

Intel rebuffs Arm after SoftBank-owned firm asked to buy US chip maker’s product unit

Intel, once the world’s largest chip maker, has become the target of takeover speculation since a rapid deterioration of its business this year. Photo: Shutterstock

Intel’s logo seen at the entrance to the chip maker’s headquarters in Santa Clara, California. Photo: Reuters

Arm Holdings chief executive Rene Haas speaks at the Computex trade show in Taipei, Taiwan, on May 29, 2023. Photo: Reuters

Intel chief executive Pat Gelsinger holds a sample of a wafer during his keynote speech at the Computex trade show in Taipei, Taiwan, on June 4, 2024. Photo: AFP

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Intel CEO Pat Gelsinger delivers a speech at the Computex forum in Taiwan in June. Photo: Reuters

An Amazon Web Services office in Herndon, Virginia, US. Photo: Bloomberg

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The Intel headquarters in Santa Clara, California. Photo: Getty Images via AFP

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Jack Weast, vice-president and general manager of Intel Automotive, shows the firm’s new discrete graphics processing unit at a launch event in Shenzhen. Photo: Intel

Intel is offering carmakers in mainland China a single platform to unlock a new era of artificial intelligence-driven in-vehicle experiences. Photo: Shutterstock

 Intel is seeking to deepen ties with mainland China, despite growing tensions between Washington and Beijing. Photo: Shutterstock

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The Intel logo seen in front of its headquarters in Santa Clara, California, August 1, 2024. Photo: Getty Images via AFP

The symbol for Intel appears on a screen at the Nasdaq MarketSite in New York, Oct. 1, 2019. Intel Corp. Photo: AP

Intel CEO Pat Gelsinger delivers a speech at the Computex forum in Taipei, Taiwan June 4, 2024. Photo: Reuters

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In the high-level inquiry, Arm did not express interest in Intel’s manufacturing operations


In the high-level inquiry, Arm did not express interest in Intel’s manufacturing operations.
