08:13 AM EDT, 09/16/2024 (MT Newswires) -- Intel ( INTC ) lost to Advanced Micro Devices ( AMD ) in bidding for a contract to design and fabricate Sony's ( SONY ) PlayStation 6 chip back in 2022, which was a significant setback to its contract manufacturing business, Reuters reported Monday, citing people familiar with the matter.

The contract would have amounted to $30 billion in revenue and a long-term Sony ( SONY ) contract would have helped bring in big clients to Intel's ( INTC ) contract manufacturing business, Reuters added.

Intel ( INTC ), AMD and Sony ( SONY ) did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 19.86, Change: +0.20, Percent Change: +1.02