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Intel CEO: We believe we have the right fixes for security exploit

Anita Balakrishnan
Intel beat expectations for the fourth quarter of 2017 amid scrutiny around the handling of the Meltdown and Spectre security vulnerabilities.

Intel's CEO said researchers at Google made Intel aware of a widespread security exploit "a while back," but the company is working on fixes that could start next week.

Intel CEO Brian Krzanich spoke to CNBC's Jon Forr on " Closing Bell " on Wednesday.

The chipmaker and enterprise technology company endured a rollercoaster day on the stock market . Shares closed more than 3 percent lower after the company said it was working to fix a security issue that also affected other chip companies.

"We've found no instances of anybody actually executing this exploit," he said, noting the fixes will prevent future exploits.

Industry blog The Register reported this week that a patch for a serious security flaw in Intel chips could impact their performance. The exploit has since been linked to "many different vendors' processors and operating systems," according to Intel. It could impact public cloud providers like Amazon Web Services, Microsoft Azure and Google Cloud Platform, but CNBC has not received comment from those companies.

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