The company is also considering the possibility of partially leasing this property. The campus includes seven buildings and 1.6 million square feet of office and laboratory space.
The sale of the property is part of Intel’s cost optimization strategy, which includes reducing space and concentrating operations at larger sites, such as the headquarters in Santa Clara.
It is worth noting that since 2021, Intel’s revenues have fallen by a third, and in the last quarter, losses amounted to nearly $17 billion.
The company has faced increased competition from TSMC and NVIDIA, losing market share in microprocessors and artificial intelligence.
As part of its cost-saving program, Intel has already cut 15,000 jobs and plans to reduce expenses by $10 billion.
