Intel Corp - INTC STOCK NEWS

Intel Corporation has declared a quarterly dividend of $0.365 per share, amounting to $1.46 annually. This dividend will be payable on Dec. 1, 2022, to shareholders on record as of Nov. 7, 2022. This announcement reflects Intel's commitment to returning value to its shareholders while continuing to innovate in the semiconductor industry, leveraging advancements in technology.

Intel is harnessing artificial intelligence (AI) responsibly to mitigate risks and foster positive change. AI is transforming daily life, enabling advancements in areas like voice banking for neurological conditions and enhancing safety in autonomous vehicles. While Hollywood often portrays AI negatively, Intel emphasizes ethical AI development and its commitment to diversity and inclusion in AI practices. Their Responsible AI Advisory Council evaluates projects for ethical risks, ensuring adherence to high standards.

Intel has announced a $17.7 million funding initiative aimed at developing semiconductor education programs in Ohio. This investment supports eight proposals from various educational institutions, involving over 80 higher education entities in the state. Intel's commitment over the next decade totals $50 million, focusing on creating a skilled workforce essential for its new chipmaking facilities, which are expected to create 7,000 construction jobs and 3,000 permanent jobs. This initiative also targets workforce shortages in semiconductor manufacturing.

Intel Corporation and Broadcom Inc. demonstrated the world’s first cross-vendor Wi-Fi 7 technology, achieving speeds over 5 Gbps. Utilizing an Intel Core-based laptop, the Wi-Fi 7 solution showcased ultra-high speed and low latency capabilities essential for new mobile PC experiences. Wi-Fi 7 promises improved reliability and efficiency with features like 320 MHz channels and 4K QAM modulation, supporting applications such as AR, VR, and 16K streaming. This milestone indicates a readiness for Wi-Fi 7's widespread adoption, enhancing connectivity for consumers and businesses globally.

Intel Corporation announces the retirement of Sunil Shenoy at the end of 2022 and the appointment of Shlomit Weiss as the new senior vice president and co-general manager of the Design Engineering Group. Weiss, who has over 30 years of experience in semiconductor design, will oversee the company's design, development, and manufacturing of intellectual properties and system-on-chips. The changes are effective immediately, with Shenoy remaining until year-end to ensure a smooth transition.

Tencent, a leading public cloud service provider in China, has achieved an impressive up to 85% performance boost for its TencentDB for MySQL by utilizing Intel oneAPI Tools. This enhancement, based on Intel® Xeon® processors, showcases the effectiveness of the Intel® oneAPI DPC++/C++ Compiler and Intel® VTune™ Profiler in optimizing cloud database performance.

Intel Corporation has entered into a groundbreaking agreement with Brookfield Asset Management to co-invest up to $30 billion in advanced chip manufacturing facilities in Chandler, Arizona. This deal is part of Intel's Semiconductor Co-Investment Program (SCIP), designed to enhance funding flexibility for its IDM 2.0 strategy while maintaining major control over the projects. The collaboration is anticipated to yield a $15 billion benefit to its adjusted free cash flow, improving financial resilience and operational capacity.

Intel Corporation will engage in several upcoming investor events, highlighting key technology discussions. On August 31, at 9 a.m. PDT, Greg Lavender will discuss software's role in data center architecture at Arete Research Future of Compute Series. Subsequently, at 9:45 a.m. PDT, Sandra Rivera will present on the Datacenter and AI Group at the Deutsche Bank Technology Conference. Additionally, on September 7, at 6:30 a.m. PDT, CEO Pat Gelsinger will address Intel's corporate strategy at the Evercore ISI TMT Conference. Webcasts will be available on Intel's Investor Relations website.

Intel Corporation has elected Lip-Bu Tan, a notable figure in the semiconductor industry, to its board of directors, effective September 1, 2022. Tan is currently the executive chairman of Cadence Design Systems and has extensive experience in software and venture capital. His addition is expected to provide valuable insights, particularly to Intel's M&A Committee. Tan expressed enthusiasm about contributing to Intel's transformation under CEO Pat Gelsinger, aiming to leverage upcoming opportunities in the semiconductor market.