Intel Writes Off $1 Billion Clearwire Investment

Aside from slashing its sales estimates today, Intel said it would take a $950 million impairment charge related to its investment in Clearwire, citing a decline in Cleawire’s stock price (to $4.93 as of Dec. 31). Intel has invested millions into Clearwire, which is building a nationwide WiMAX network, with the hopes of selling more chips into web-connected portable computers.