The two problems, called Meltdown and Spectre, could allow hackers to steal the entire memory contents of computers, including mobile devices, personal computers and servers running in so-called cloud computer networks. There is no evidence that hackers have taken advantage of the vulnerability - at least not yet.
Barclays believes that flaws like this happen with various CPU architectures every so often, they get resolved, and historically don't create long-term issues.
What is worse is that Intel's chips from the past decade, are the ones affected. "Intel is committed to responsible disclosure". Its newly updated security bulletin simply says that "operating system and some application updates mitigate these attacks", and provides a list of vendors that have updated their software to help guard against Meltdown and Spectre.
While in theory, it appears that the performance of PCs might take a hit, the impact for average computer users wouldn't be significant. "Spectre" can affect computers, phones and tablets. Based on the analysis to date, many types of computing devices - with many different vendors' processors and operating systems - are susceptible to these exploits.
The fruity cargo-cult said it had released mitigations to defend against Meltdown in iOS 11.2, macOS 10.13.2, and tvOS 11.2. Microsoft and Linux Foundation are working on patches to fix the vulnerabilities while Apple has yet to make a statement on the matter.
'By the end of next week, Intel expects to have issued updates for more than 90 percent of processor products introduced within the past five years'.
In a post on the company's website Wednesday, AMD said that one variant of the Spectre vulnerability was resolved by software and operating system updates. However, AMD has responded, saying that there is a "near zero risk to AMD processors at this time".
The plaintiffs are seeking compensation from the chip giant, citing the security vulnerability as well as Intel's failure to disclose it in a timely fashion.
SingCert's advisory follows the release on Wednesday by global researchers of the full details of these two critical flaws in modern computer chips.
Google and other security researchers this week disclosed two major chip flaws - one called Meltdown affecting only Intel Corp chips and one called Spectre affecting almost all computer chips made in the last decade.