Benzinga | Sep 1, 2021 03:20PM EDT

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

* Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google is developing its own central processors for notebooks and tablet computers, highlighting its Apple Inc (NASDAQ: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 (NASDAQ:INTC) and Advanced Micro Devices Inc (NASDAQ: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.