- Intel Corp (NASDAQ:INTC) offered to acquire semiconductor designer start-up SiFive Inc for over $2 billion, Bloomberg reports.
- SiFive received acquisition offers from multiple parties apart from Intel, including offers for preferable investment routes.
- SiFive was last valued at $500 million during a 2020 fundraising event. It last raised $61 million in a 2020 funding round.
- SiFive designs chips under the RISC-V architecture to make it cheaper and accessible to customers.
- SiFive attracted interest since NVIDIA Corp (NASDAQ:NVDA) agreed to acquire SoftBank Group Corp’s (OTC:SFTBY) (OTC:SFTBF) Arm Ltd for $40 billion. Arm licenses chip and process designs akin to SiFive.
- SiFive CEO Patrick Little joined the company in 2020 after heading Qualcomm Inc’s (NASDAQ:QCOM) auto business.
- SK Hynix Inc (OTC:HXSCL), Spark Capital, and Prosperity7 Ventures, the venture arm of Saudi Arabia’s state-owned energy producer Aramco are backers of SiFive. Venture arms of chipmaker Qualcomm and hardware maker Western Digital Corp (NASDAQ:WDC) also back SiFive.
- Price action: INTC shares traded higher by 0.19% at $57.49 in the premarket session on the last check Friday.
Goldman Sachs Maintains Buy on United Airlines Holdings, Raises Price Target to $59
Goldman Sachs maintains United Airlines Holdings (NASDAQ:UAL) with a Buy and raises the price target from $52 to $59.
