Intel raises spending forecast by $1.3billion
As a result of its $1.25billion legal settlement with Advanced Micro Devices, Intel has adjusted its fourth quarter financial expectations.
Intel now expects spending in the fourth quarter to be approximately $4.2bn, up from $2.9bn. In addition, the effective tax rate is expected to be approximately 20% - down from 26%.
Under terms of the agreement, the parties will end all outstanding litigation including antitrust and patent cross license disputes. AMD, who received $1.25bn will now enter into a new five year patent cross license agreement with Intel.
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