Intel Writes Off $950M on Clearwire

Luke Timmerman1/8/09

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.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.