Tag: $Intel Corp.

Intel (INTC.O), is getting a $2 billion capital injection from SoftBank Group (9984.T), in a major vote of confidence for the troubled U.S. chipmaker in the middle of a turnaround.

Intel stock jumped at the end of trading on Thursday and looked set for more gains Friday after a Bloomberg report said the U.S. government is in talks to take a stake in the chip maker.

Intel (INTC) stock jumped more than 3% in premarket trading on Tuesday after CEO Lip-Bu Tan met with President Trump, who had called for Tan’s resignation last week.

Intel shares were under pressure Thursday after President Donald Trump called for the chipmaker’s CEO to resign immediately.  Intel dropped in the premarket on the back of that post, last trading 5% lower.

The production process that Intel (INTC.O), hoped would pave the way to winning manufacturing deals and restore its edge in churning out high-end, high-margin chips is facing a big hurdle on quality as it puts newer technologies to the test, two people briefed on the matter told Reuters.

Intel reported second-quarter results on Thursday that beat Wall Street expectations on revenue, as the company’s new CEO Lip-Bu Tan announced significant cuts in chip factory construction. The stock fell about 5% in extended trading.

 Intel has considered divesting its network and edge businesses as the chipmaker looks to shave off parts of the company its new chief executive does not see as crucial, three sources familiar with the matter said.

Intel reported first-quarter results Thursday that beat analysts’ estimates, while issuing disappointing guidance and announcing plans to slash expenses in the coming year, the first under CEO Lip-Bu Tan.

Intel nears deal to sell Altera chip unit to PE group Silver Lake

Intel (NASDAQ:INTC) and Taiwan Semiconductor Manufacturing Co. (TSMC) are in discussions to form a joint venture to manage Intel’s chipmaking facilities, according to a report from The Information, citing sources involved in the talks.

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.