Intel has found itself in a very central position, so to speak, due to a couple of updates. The first one is the latest development in Hewlett-Packard’s suit against Oracle’s decision to halt support for Intel’s server Itanium chips. Those chips can be found in some of HP’s products.

Fresh off the weekend, Oracle’s legal department launched its counterattack today.  The company is now making some serious accusations claiming Hewlett-Packard has a secret agreement with Intel to keep the latter from shutting down its Itanium line.

PCWorld picked up a part of Oracle’s filing:

“HP’s strategy behind its “false statements” about Intel’s support for Itanium was to take away business from Oracle Sun, and “reap lucrative revenues from the locked-in Itanium customer base using HP’s HP-UX operating system on Itanium servers”, as the company gets few service contracts on operating systems like Linux that run on x86 processors, Oracle said.”

Naturally HP has come up with its own set of accusations against its rival, going as far as referring to Oracle’s latest move as a ”desperate delay tactic designed to extend the paralyzing uncertainty in the marketplace.” And Intel’s caught up in the middle of it.

Intel is also getting some attention on a different front. Bill Schrier, Seattle’s chief technology officer said the city’s IT spending will drop by 6 percent in 2012. Microsoft and Intel, along with the rest of the industry, are bracing themselves for what will follow this early indicator. HP in turn is also seeing shifts in its button line, though from a different angle.

Investors are worried about the impact of the company’s $11.7 billion of Autonomy and the $1 billion it spent on shutting down its webOS unit on its button line. It had about  $13 billion in July, and shareholders are concerned about what Rob Cihra, an analyst at Evercore Partners referred to as “limited options.”