Chipmaker Intel Corp must pay a technology rival $2.18 billion after a federal jury decided that Intel infringed on its patent, a federal court ruled on Tuesday.
Intel infringed two patents related to chip-making owned by VLSI Technology LLC the jury ruled.
In a statement, Michael Stolarski, chief executive of VLSI Technology, said the firm was "pleased that the jury recognized the value of the innovations as reflected in the patents and are extremely happy with the jury verdict.”
The jury found $1.5 billion for all damages caused to VLSI on infringement of the first patent and $675 million for the infringement of the other.
"Intel strongly disagrees with today's jury verdict. We intend to appeal and are confident that we will prevail," the Santa Clara, California-based company said.
Intel's shares closed down 2.6% at $61.24.
(Reporting by Chavi Mehta in Bengaluru and Stephen Nellis in San Francisco; Editing by Shounak Dasgupta)
