Intel's performance has been surprisingly poor of late. That's not just in PC gaming, a market that is, after all, only a small piece of Intel's pie. Intel's stock price has fallen nearly 60% so far this year. No wonder Intel is selling a lot of stock.

Intel sold all 1.18 million shares of Arm Holdings it owned (via Reuters), which, according to Reuters' calculations, would have raised almost $150 million ($146.7 million) for the company.

For some time now, Chipzilla has been working on a new strategy of moving to a TSMC-like contract manufacturing model. In fact, Intel recently partnered with Arm to ensure that future chips will fit into Intel's 18A production node.

This news may have caught some people's attention because Intel sold shares in the company with which it had just partnered. But clearly these shares did not disappear into thin air, only the ownership changed. Arm is doing well.

Indeed, $150 million is a pittance in the chip manufacturing industry. [...] [...] [...] [...] [...] [...] [...] [...] [...] [...] [...]