Tag: $Intel Corp.

Volkswagen Group is working with Valeo and Mobileye to upgrade the advanced driver assistance systems up to Level 2+ (“enhanced partially automated driving”) in its upcoming vehicle portfolio based on the MQB platform.

Intel’s incoming CEO Lip-Bu Tan has considered significant changes to its chip manufacturing methods and artificial intelligence strategies ahead of his return to the company on Tuesday, two people familiar with Tan’s thinking told Reuters, in a sweeping bid to revive the ailing technology giant.

Shares of Intel surged 10% in premarket activity, as Wall Street cheered the decision to name former board member Lip-Bu Tan as CEO, who left in August over differences about the chipmaker’s direction, after several years of market underperformance.

Chip designers Nvidia (NVDA.O), opens new tab and Broadcom (AVGO.O), are running manufacturing tests with Intel (INTC.O), two sources familiar with the matter told Reuters, demonstrating early confidence in the struggling company’s advanced production techniques.

Intel could be split up, with two of the chip maker’s biggest rivals eyeing separate parts of its business.

The head of Intel’s artificial-intelligence operations is leaving to take the top job at Nokia, just months after former Intel CEO Pat Gelsinger abruptly retired from the company.

Pat Gelsinger has abruptly stepped down as Intel chief executive, ending a nearly four-year run during which he failed to halt the Silicon Valley icon’s slide into turmoil.

Intel said on Wednesday its deal for $7.86 billion in U.S. government subsidies restricts the company’s ability to sell stakes in its chipmaking unit if it becomes an independent entity.

On Tuesday, the Biden administration announced the Commerce Department has awarded $7.865 billion to the company via direct funding from the Chips and Science Act.

The U.S. government plans to reduce Intel Corp’s preliminary $8.5 billion federal chips grant to less than $8 billion, the New York Times reported on Sunday citing unnamed sources.

Intel’s upbeat revenue projections on Thursday masked a sore point for the embattled company: chips touted for artificial intelligence have not lived up to sales expectations.

The chipmaker, which has lost over half its value this year and last month had its worst day on the market in 50 years after a disappointing earnings report, started the week on Monday by announcing that it’s separating its manufacturing division from the core business of designing and selling computer processors.

Shares of Mobileye Global were rising Thursday after majority shareholder Intel said it currently has no plans to divest a majority interest in the autonomous-driving company.

Intel shares jumped 8% in extended trading Monday after the company said it plans to turn its foundry business into an independent unit with its own board and the potential to raise outside capital.

Intel’s shares rose more than 3% before the bell on Friday, as a report of the struggling chipmaker exploring options that could include a merger or a split induced some investor enthusiasm after one of the stock’s worst slumps in decades.

Intel was set to erase nearly $25 billion in stock market value on Friday in potentially its worst selloff since 2000 after it suspended dividend and slashed workforce to fund a costly turnaround for its chip-making business.

U.S. chipmaker Intel on Tuesday announced new artificial intelligence chips for data centers, as it looks to take on rivals Nvidia and AMD, which have showcased upcoming chips in the last two days.

 Intel shares slumped more than 7% premarket on Friday after a downbeat second-quarter sales forecast signaled that the boom in AI technology was diverting enterprise spending away from its traditional data center and PC chips.

Intel said operating losses in its chip manufacturing arm should peak this year, with the business expected to reach break-even in 2027.

China has rolled out new guidelines that will phase out U.S. processors in government computers and servers, effectively blocking chips from Intel and AMD, the Financial Times reported on Sunday.