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.
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.
“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 percent at $61.24.
By Chavi Mehta and Stephen Nellis
- Top House Republicans Allege Democrats ‘Not Serious’ About Confronting China in Chips, Competition Bill January 27, 2022
- US Semiconductor Chip Shortage Poses Economic, National Security Risks: Commerce Dept. January 26, 2022
- Logitech Pop Keys review: A trendy mechanical keyboard with surprisingly great features January 22, 2022
- Microsoft’s Activision Merger Is History’s Biggest Tech Deal. The Stocks to Play It. January 22, 2022
- Net neutrality will make a comeback in 2022 January 11, 2022
- CBP Seizes Shipment Containing 50,000 Fake Apple AirPods, 920 Nintendo Video Game Consoles From China January 7, 2022