A federal grand jury has indicted a San Jose, Calif., man and former Intel Corp. employee for theft of trade secrets of Intel’s next-generation Itanium microprocessor. Say Lye Ow, 29, is alleged to have stolen files related to the design and testing of the chip and taken them to his new employer, whom the U.S. attorney’s office did not name. A spokesperson said the employer, an Intel competitor, is not expected to be charged in the case.

The highly anticipated chip, formerly dubbed “Merced,” is being jointly developed by Intel and Hewlett-Packard. Scheduled for a summer release, Itanium will be the first 64-bit microprocessor on the market.

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