Chipmaker Intel Corp must pay a technology rival $2.18 billion after a federal jury decided that Intel infringed on its patent, a federal court ruled on Tuesday.
Intel infringed two patents related to chip-making owned by VLSI Technology LLC the jury ruled.
Intel wins second phase of contract to help Pentagon develop chips
In a statement, Michael Stolarski, chief executive of VLSI Technology, said the firm was “pleased that the jury recognized the value of the innovations as reflected in the patents and are extremely happy with the jury verdict.”
The jury found $1.5 billion for all damages caused to VLSI on infringement of the first patent and $675 million for the infringement of the other.
IBM rolls out newest processor chip, taps Samsung for manufacturing
“Intel strongly disagrees with today’s jury verdict. We intend to appeal and are confident that we will prevail,” the Santa Clara, California-based company said.
Intel’s shares closed down 2.6% at $61.24.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ