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Intel shares fall as chip flaws dominate tech giant news

Intel shares opened lower Thursday as the revelation its products are among the chips with potential security-related flaws, has tech giants ensuring the right fixes are available.

Intel shares opened 4.30% lower Thursday at $43.32. However, rival Advanced Micro Devices shares, who’s chips are also vulnerable, rose 6.75% to $12.33.

Google, Amazon and Microsoft Corporation are all making certain their tech is secure. The majority of devices are already protected by regular software updates the firms have said. Where that isn’t the case, new patches and updates are being developed.

Intel working on a flaw resolution

After keeping quiet for much of Wednesday, Intel released a statement on the reported security problems with its chips.

“Intel is committed to product and customer security and is working closely with many other technology companies, including AMD, ARM Holdings and several operating system vendors, to develop an industry-wide approach to resolve this issue promptly and constructively,” the tech firm stated.

“Intel has begun providing software and firmware updates to mitigate these exploits. Contrary to some reports, any performance impacts are workload-dependent, and, for the average computer user, should not be significant and will be mitigated over time,” Intel added.

Vulnerability yet to be exploited

The problem is that when the processing chips move data around into different types of its memory, there is the potential for the right malware to access and read sensitive information.

While some tech is still vulnerable to security exploitation, as yet, there is no evidence to suggest this has happened.

According to researchers, the two main potential bugs are called ‘Spectre’ which can affect chips made by Intel, AMD and ARM Holdings. ‘Meltdown’ is the other potential problem and only affects Intel products.

While hackers are known for exploiting weaknesses in software, this hardware weakness will likely have a lasting impact on the tech firms who produce processing chips. As Intel stated, work into remedying the issue is ongoing and is also collaborative.

However, Google reportedly informed Intel of this problem in June 2017. That means the company has already had months to come clean and find the best solutions to the problem too.

About the author

Ilona Billington
Ilona is a freelance writer and editor with over 15 years experience reporting and writing about UK and European economics, real estate, financial markets and central banks.

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