Intel Liable To Pay $949M For VLSI Patent Infringement - Intel (NASDAQ:INTC)

A federal jury in Texas said Intel Corp INTC must pay VLSI Technology LLC $948.8 million for violating a VLSI patent for computer chips.
VLSI, a patent-holding company, is affiliated with the Softbank Group Corp SFTBF SFTBY-owned private equity firm Fortress Investment Group.
VLSI argued during the six-day trial that Intel's Cascade Lake and Skylake microprocessors infringed its patent covering improvements to data processing.
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An Intel spokesperson said the company "strongly disagrees" with the verdict and plans to appeal.
Last March, VLSI won a nearly $2.2 billion verdict from Intel in a separate Texas trial over different chip patents, which Intel has appealed.
VLSI lost another related patent trial against Intel the following month. VLSI bought the patent in the latest trial from Dutch chipmaker NXP Semiconductors NV NXPI.
An attorney for VLSI said at trial that Intel's chips cause "millions and millions of infringements per second." The jury awarded the company the total amount of damages it requested.
A lawyer for Intel said during the trial that the company's engineers developed its innovations independently and that its modern microprocessors would not work with VLSI's outdated technology.
Two other patent cases brought by VLSI against Intel are still pending in Northern California and Delaware.
Intel held $22.6 billion in cash and equivalents as of October 1, 2022.
Price action: INTC shares closed higher by 1.19% at $30.71 on Tuesday.

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