(credit score: Andrew Cunningham)
Activist hedge fund Third Level has taken a stake of practically $1 billion in Intel and known as on the chipmaker to contemplate shedding its manufacturing operations, throwing a core a part of its technique into query.
The agency with $15 billion in property run by Daniel Loeb made plenty of calls for in a letter despatched to Intel’s chairman Omar Ishrak on Tuesday and seen by the Monetary Instances.
Within the letter, Mr Loeb mentioned that Intel was “as soon as the gold normal for progressive microprocessor manufacturing” however had fallen behind manufacturing opponents in East Asia reminiscent of TSMC and Samsung.
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