AI tops financial stability concerns in Fed survey
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Soros Fund raises Intel holding to $340.3 million
The family office increased its Intel position to 2.83 million shares in the third quarter while reducing its Apple and ON Semiconductor holdings.
Soros Fund Management increased its Intel holding to 2.83 million shares, valued at $340.3 million, during the third quarter, according to a regulatory filing on November 13. The investment firm is billionaire George Soros' family office.
Its previous quarterly disclosure listed 100,000 Intel shares as of the end of June. The latest filing also showed reductions in two other technology holdings: Apple was cut by 25.7% to 393,680 shares, while ON Semiconductor was reduced by 92.7% to 16,594 shares.
Intel has warned that it faces severe cash burn this year, citing weakness in the PC market, manufacturing bottlenecks and heavy expenditure to expand production. The chipmaker has also benefited from rising demand for CPUs used in AI data centers.
The portfolio details were disclosed in 13F filings. These regulatory submissions provide a delayed view of investment firms' holdings and are monitored for changes in their portfolios.