Intel Corp. shares dropped Friday following a report that Microsoft Corp. was developing in-house chips for its servers and Surface PCs. Using Arm designs. Intel (INTC) shares fell 6% to $47.60 in recent activity, while shares of Advanced Micro Devices Inc. (AMD), which also makes CPUs, declined 2.3% to $94.59. Microsoft (MSFT) plans to develop a chip using Arm Holdings PLC designs for its data centers, and exploring using another chip to power its PCs, Bloomberg reported on Friday ( ). In September, Nvidia Corp. (NVDA) offered $40 billion to acquire Arm from Softbank Group Corp. Nvidia shares were down 1.5% at $525.47. Microsoft shares declined 0.8% to $217.62.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
December 18, 2020 16:03 ET (21:03 GMT)
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