Intel has sold its entire 1.18 million share stake in British chip designer Arm Holdings during the second quarter of 2024. The sale is estimated to have raised approximately $146.7 million for Intel, based on Arm's average stock price during the period from April to June. This move is part of Intel's broader strategy to cut costs and restructure its operations amid financial challenges. The company is also undertaking significant workforce reductions, cutting over 15% of its employees, and has suspended its dividend as part of its efforts to stabilize its business.