Welcome to our dedicated page for Intel news (Ticker: INTC), a resource for investors and traders seeking the latest updates and insights on Intel stock.
Intel Corporation (NASDAQ: INTC) is an American multinational technology company headquartered in Santa Clara, California. As one of the world's largest semiconductor chip manufacturers by revenue, Intel has been a pioneer in the digital revolution, particularly known for its development of the x86 series of microprocessors, found in most personal computers today.
Intel's core business centers around the design and manufacturing of microprocessors for global markets, including personal computers and data centers. The company has been instrumental in advancing semiconductor technology, adhering to Moore's Law, which predicts the doubling of transistors on a microchip approximately every two years. This foresight has kept Intel at the forefront of the semiconductor industry.
In recent years, Intel has diversified its operations to include communications infrastructure, automotive solutions, and the Internet of Things (IoT). The company aims to leverage its extensive chip manufacturing expertise to adopt an outsourced foundry model, enabling it to construct chips for various external clients.
Intel's latest strategic shift involves the transition to an internal foundry model, a decision announced by the CEO on October 11, 2022. This model is designed to streamline the company's financial reporting by segregating manufacturing services into a distinct group, known as Intel Foundry Services (IFS). The move is expected to enhance cost savings and improve operating margins.
The company recently faced a class action lawsuit related to alleged misleading statements about the Internal Foundry model's financial performance. Despite these challenges, Intel continues to innovate and maintain its leadership in central processing units (CPUs) for both personal computers and servers.
Intel's ongoing projects and partnerships, particularly in the fields of AI, 5G technology, and autonomous driving, underscore its commitment to shaping the future of technology. With a strong financial foundation and a strategic vision for growth, Intel remains a pivotal player in the global semiconductor industry.
Mobileye Global (Nasdaq: MBLY) announces its Capital Markets Day scheduled for December 9th and 10th, 2024, in Munich, Germany. The event will showcase real-world demonstrations of EyeQ®5-based SuperVision™ in production vehicles and Drive™ system in robotaxis. The program includes in-depth presentations on self-driving technology, EyeQ®6 High updates, and progress reports on SuperVision, Chauffeur™ and Drive production programs.
Due to vehicle demo ride constraints, identical sessions will run over two days. While space is , interested parties can email investors@mobileye.com by November 12th. A live video webcast will be available for the December 9th session, with an archived replay provided afterward.
Mobileye Global (Nasdaq: MBLY) has announced its participation in two major investor conferences in Q4 2024: the Baird 2024 Global Industrial Conference on November 14, and the Barclays 15th Annual Global Automotive and Mobility Tech Conference on November 21. The company plans to webcast its fireside chats when possible, with exact timing to be announced later. Interested parties can access the webcasts through Mobileye's investor relations website.
Lyft and Mobileye have announced a strategic alliance to accelerate autonomous vehicle (AV) commercialization. The partnership will combine Lyft's network of 40 million annual riders with Mobileye's AV technology to create a seamless demand platform for Mobileye Drive™-based AV fleets.
Future AV operators will be able to purchase 'Lyft-ready' vehicles equipped with Mobileye Drive technology and access Lyft's rider demand to optimize fleet utilization. The collaboration will leverage Mobileye's cloud-based AV demand technology and Lyft's AV Partner APIs to monetize AV fleets, aiming to provide faster and broader AV availability to users.
Intel reported Q3 2024 revenue of $13.3 billion, down 6% year-over-year, with a GAAP loss per share of $(3.88) and non-GAAP loss of $(0.46). Results were impacted by $15.9 billion in impairment charges and $2.8 billion in restructuring charges. The company is progressing on its $10 billion cost reduction plan for 2025. Client Computing Group revenue declined 7% to $7.3 billion, while Data Center and AI grew 9% to $3.3 billion. For Q4 2024, Intel forecasts revenue between $13.3-14.3 billion with expected GAAP EPS of $(0.24) and non-GAAP EPS of $0.12.
Mobileye (MBLY) reported Q3 2024 financial results with revenue of $486 million, marking an 8% year-over-year decrease primarily due to a 9% reduction in EyeQ volumes. The company maintained its full-year 2024 revenue guidance. Q3 GAAP EPS was $(3.35), impacted by a non-cash goodwill impairment loss of $2,613 million, while Adjusted EPS was $0.10. The company generated $196 million in operating cash flow for the first nine months of 2024. Despite near-term challenges, Mobileye continues to focus on strategic objectives, including maintaining ADAS market position outside China and deepening relationships with top customers through advanced product design wins.
Intel (INTC) and AMD have announced the formation of an x86 ecosystem advisory group to shape the future of computing architecture. The group aims to enhance compatibility, simplify software development, and identify architectural needs for innovative solutions. Key tech leaders including Broadcom, Dell, Google, HPE, HP Inc., Lenovo, Meta, Microsoft, Oracle, and Red Hat have joined as founding members.
The initiative seeks to expand the x86 ecosystem by enabling cross-platform compatibility and providing developers with a platform to create scalable solutions. The group will focus on unifying instruction sets and architectural interfaces to enhance compatibility and consistency across x86 product offerings. This collaboration is expected to benefit customers by accelerating the adoption of new features and simplifying architectural guidelines.
Mobileye Global Inc. (Nasdaq: MBLY) has announced the timing for its third quarter 2024 financial results release. The company will disclose its results on Thursday, October 31, 2024, before the market opens. Following the release, Mobileye will host a conference call at 8:00am ET (2:00pm IT) to discuss the results and provide a general business update.
The call will feature key company executives, including CEO Professor Amnon Shashua, CFO Moran Shemesh Rojansky, EVP of Business Development and Strategy Nimrod Nehushtan, and CCO Dan Galves. Investors and interested parties can access the conference call via a live webcast on Mobileye's investor relations website at https://ir.mobileye.com/. A replay of the webcast will be made available shortly after the event concludes.
Intel has announced it will report its third-quarter 2024 financial results on Thursday, October 31, 2024, immediately after the market closes. The company will host an earnings conference call at 2 p.m. PDT on the same day to discuss the results. Investors and interested parties can access a live public webcast of the earnings call on Intel's Investor Relations website at intc.com. The website will also provide associated materials and a webcast replay for those unable to attend the live call.
Intel has unveiled next-generation AI solutions with the launch of Xeon 6 and Gaudi 3. The Xeon 6 with Performance-cores (P-cores) doubles the performance for AI and HPC workloads, while Gaudi 3 AI accelerators offer up to 20% more throughput and 2x price/performance vs H100 for inference of LLaMa 2 70B.
Key features of Xeon 6 include increased core count, double the memory bandwidth, and AI acceleration capabilities in every core. Gaudi 3 boasts 64 Tensor processor cores, 8 matrix multiplication engines, 128GB of HBM2e memory, and 24 200Gb Ethernet ports.
Intel is collaborating with IBM to deploy Gaudi 3 as a service on IBM Cloud, aiming to lower TCO and enhance performance. The company is also partnering with OEMs like Dell Technologies and Supermicro to develop co-engineered AI systems.
Flapmax and Intel have announced the launch of the Quantum AI Challenge, an initiative aimed at fostering innovation among Historically Black Colleges and Universities (HBCUs). The challenge invites students, faculty, and researchers to solve real-world problems using quantum computing and AI technologies. Applications open on September 20, 2024.
Participants will gain access to cutting-edge AI hardware, tools, and mentorship from global experts. The challenge focuses on defining and solving complex optimization problems in industries like healthcare, energy, material science, and supply chain. Selected teams will receive Intel AI PCs to run Python-based quantum simulations enhanced with AI.
The initiative builds on Flapmax's collaboration with Intel to accelerate AI innovation in underserved populations. It aims to empower HBCU students to lead in AI and quantum computing, addressing global challenges and developing practical applications across key industries.
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