Google's Latest Foray Sparks More Bad News For Intel, AMD

Alphabet Inc's GOOG GOOGL Google is developing its own central processors for notebooks and tablet computers, highlighting its Apple Inc AAPL inspired in-house chip development aspirations, Nikkei Asia reports.
Google aims to launch CPUs for laptops and tablets, which run on the company's Chrome operating system, by 2023 based on chip blueprints of Arm Ltd.
Intel Corp INTC and Advanced Micro Devices Inc AMD powers Google's Chromebooks, as per a CNBC report. Google recently announced plans to build its smartphone processor to power the new Pixel 6 and Pixel 6 Pro devices.
Major tech players like Amazon.com, Facebook, Microsoft, Baidu, and Alibaba are all racing to build their semiconductors to power their cloud services and electronic products.
Price Action: INTC shares traded lower by 0.64% at $53.72 in the market session on the last check Wednesday.