It said it had repurchased all the shares
The software took 4,414 million in the company, which could book a significant paper loss to the chip company in its investment.
Shares of Cloud Terra (Ticker: CLDR) advanced 1.1% during the extended session and closed at $ 15 with a 2.5% gain in the regular session. Shares of Intel (INDC) rose 0.1% after hourly trading, after closing the regular session 0.9 %.5 46.57.
Intel invested $ 42,742 million several years ago because the chip agent is said to want to tell the direction of big data software like the products that Cloudra makes. In Wednesday’s announcement, Cloudra Said The purchase will not affect existing business partnerships with Intel, and it will pay about $ 12.05 million for about 26 million shares.
The investment seems to have cost Intel about $ 400 million, but It is not clear Intel expects its shares to fall. When Intel initially bought the shares, it was more than double what another group of investors paid for Cloudra shares a few weeks ago. At the time, then-led by Brian Kronich, Intel was said to be aiming to evict potential cloud buyers, scaring them at an estimated $ 4.1 billion.
Intel 11.99 million shares. Paid 30.92, costing 5% of its cash and short-term investments at the time. The cloud terra was eventually more than double the $ 15 share price Go public in 2017.
In a statement via email, an Intel spokesman said the company had decided to sell its stake after Cloudra chose to repurchase its $ 500 million stake.
While the reason is not immediately clear, the decision to disperse the Cloud Terra shares is part of a plan to slash the company’s non-assets and buy small businesses that will increase its efforts in areas such as artificial intelligence.
(000660.Korea) for 9 billion. In late 2019, Intel acquired Israeli-based AI chip maker Habana Labs for $ 2 billion. Also in July 2019, Intel announced that it was selling its smartphone modem business
(AAPL). Apple is Is said Began to develop its own cellular modems for its future iPhones.
Write Max A. at [email protected] Cherni
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