Bloomberg learned of Intel’s refusal to sell the Arm business

Arm Holdings Plc turned to Intel Corp. with an offer to buy one of its troubled chip-making divisions, but was rejected. Intel said the business is not for sale. This is reported by Bloomberg citing a source familiar with the situation. Arm and Intel declined to comment.

According to the agency source, the negotiations were private and Arm showed no interest in Intel’s manufacturing operations.

In 2024, Intel, which until recently was the world’s largest chipmaker, faces serious difficulties. The company’s shares fell in August to their lowest level in decades. Intel decided to cut 15,000 jobs, freeze production expansion plans and suspend dividend payments.

Intel also announced measures to overcome the crisis. The company plans to spin off chip production into an independent company, reduce costs, increase investment efficiency and review the financing of some areas.

In September, Qualcomm expressed interest in acquiring Intel’s chip business, submitted an inquiry and began exploring a potential acquisition. To reduce costs, Intel itself decided to suspend the construction of factories in Germany and Poland for two years, as well as temporarily freeze the project in Malaysia until demand for microprocessors is restored.