As was to be expected, Intel has been slapped with the first lawsuits asking for compensation regarding the flaws now named <a href="https://spectreattack.com/">Spectre</a> and <a href="https://meltdownattack.com/">Meltdown</a> found in the CPU processor chips the US tech giant has provided to worldwide computers.
With many more expected, three lawsuits were already filed against Intel in the states of California, Oregon and Indiana.
Intel CEO Brian Krzanich, who handily sold half his stock (245,000 shares) in the company just before the security flaw issues became public (he now holds only the minimum amount of shares he's required to own under corporate policy), has already declared that Meltdown and Spectre will not lead to a massive recall.
Even though Intel paid hundreds of millions of dollars in 1994 after they found the FDIV bug in their computers at the time, this problem is proving to be far bigger financially than anything they can handle.
The company also claims that the new problems are fixable.
The pending lawsuits do not agree with his vision though, with consumers stating in their complaint that: "The defect renders the Intel x86-64x CPUs unfit for their intended use and purpose,"
"In essence, Intel x86-64x CPU owners are left with the unappealing choice of either purchasing a new processor or computer containing a CPU that does not contain the Defect, or continuing to use a computer with massive security vulnerabilities or one with significant performance degradation."
So far, Intel’s rival AMD is coming out as a winner. Whilst Intel has seen its stock plummet in recent days due to the scandals, AMD has mounted more than 10%. Even though AMD chips are also affected by the Spectre bug (but not by Meltdown), it is widely assumed that many corporations will as from now choose to diversify chips orders and therefore lessen Intel’s market share of the global chip market.