Intel's $600 million Investment In HypeMAX Paying Off
from the make-the-bubble-bigger dept
Intel's throwing a lot of money at WiMAX -- not just to fund its own efforts, but to almost singlehandedly prop up the market in an effort to ensure it will have some customers. It started a joint venture with a UK ISP to build a WiMAX network there, and has even funded rival WiMAX chipmakers. Those investments pale in comparison to its most recent one where it pumped $600 million into Craig McCaw's Clearwire WiMAX operator. This huge investment negated the need for Clearwire to continue with plans to go public, after its IPO announcement raised a lot of questions. But it looks like Intel's cash injection is already having its intended effect, as BusinessWeek anoints Clearwire as the next big thing in broadband access, taking all the as yet unproven claims about WiMAX to heart, without touching on any of the plethora of questions surrounding the company, its viability and the reception its IPO was getting on Wall Street. Which is just the kind of hype Intel likes for WiMAX, and was hoping its investment would generate.