The company is also considering the possibility of partially leasing this property. The campus consists of seven buildings and 1.6 million square feet of office and laboratory space.
The sale of the property is part of Intel’s cost-cutting strategy, which includes saving space and concentrating operations in larger facilities such as its headquarters in Santa Clara.
Let’s remember that since 2021, Intel’s revenues have fallen by a third, with losses reaching almost $17 billion in the last quarter.
The company faced increasing competition from TSMC and NVIDIA, losing share in the microprocessor and artificial intelligence markets.
As part of the savings program, Intel has already cut 15,000 jobs and plans to cut costs by $10 billion.
Source: Ferra
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