Intel Writes Off $950M on Clearwire

1/8/09

Intel is taking a $950 million asset impairment charge from its investment in Kirkland, WA-based Clearwire, because of the declining value of Clearwire’s stock, according to this report in GigaOm. Clearwire, the brainchild of wireless pioneer Craig McCaw, is building a national WiMAX network to improve broadband wireless connections. Clearwire (NASDAQ: CLWR) stock closed yesterday at $4.98.

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