Intel plans chip VC fund

Intel Corp. is expected to announce a new $300 million venture capital fund to foster companies that design key building blocks for the next generation of Intel microprocessors.

US Bancorp Piper Jaffray analyst Ashok Kumar said Sunday he expects Intel to contribute $100 million in seed capital to the new fund.

The remaining $200 million is expected to come from a mix of Fortune 500 customers and technology suppliers like Hewlett-Packard Co., a key ally in the development of Intel's upcoming generation of microprocessors, called IA-64.

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