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 (INTC), the global leader in semiconductor innovation, maintains this dedicated news hub for investors and technology professionals. Access official press releases, financial announcements, and strategic updates directly from the company driving computing advancements worldwide.
This comprehensive resource aggregates Intel's latest developments across key operational areas including processor innovations, manufacturing expansions, and strategic partnerships. Users will find verified information on quarterly earnings, product launches, and technology breakthroughs - all essential for understanding the company's market position.
The curated collection includes updates on data center solutions, AI chip development, foundry services expansion, and sustainability initiatives. Bookmark this page to monitor Intel's progress in advancing semiconductor technology while maintaining awareness of industry-shaping developments.
Intel has appointed two semiconductor industry veterans to its board of directors: Eric Meurice, former president, CEO, and chairman of ASML Holding, and Steve Sanghi, chairman and interim CEO of Microchip Technology. Both will serve as independent directors.
Meurice led ASML from 2004 to 2013, during which the company's market value increased five-fold. He was key in establishing ASML's Customer Co-Investment Program for next-generation lithography technologies. Sanghi led Microchip Technology as CEO from 1991 to 2021, achieving 121 consecutive quarters of profitability and growing the company's market value from $10 million to approximately $44 billion.
Intel announced the retirement of CEO Pat Gelsinger, effective Dec. 1, 2024. David Zinsner and Michelle Johnston Holthaus have been appointed as interim co-CEOs while the board conducts a search for a permanent successor. Holthaus has also been named CEO of Intel Products, overseeing the Client Computing Group, Data Center and AI Group, and Network and Edge Group. Frank Yeary will serve as interim executive chair. The board emphasized their commitment to restoring investor confidence, placing the product group at the center of operations, and focusing on regaining manufacturing competitiveness while driving greater efficiency and improved profitability.
Intel has secured up to $7.86 billion in direct funding from the U.S. Department of Commerce under the CHIPS and Science Act, plus a 25% investment tax credit, to support its $100 billion investment plans in American semiconductor manufacturing. The funding will advance projects across Arizona, New Mexico, Ohio, and Oregon. This follows a separate $3 billion contract for the Secure Enclave program. The investments are expected to create more than 10,000 company jobs, 20,000 construction jobs, and 50,000 indirect jobs. The package includes $65 million for workforce development, with $56 million allocated for training and education programs.
Mobileye has released an updated press kit featuring new multimedia assets showcasing its autonomous driving technologies and global operations. The kit includes high-resolution photos, infographics, and b-roll footage of their EyeQ System-on-Chip (SoC), SuperVision™ driver assistance system, and autonomous test fleets. The visual materials highlight Mobileye's headquarters, production vehicles, and various technological solutions including Road Experience Management™ (REM), Cloud-Enhanced Driver-Assist™, and the DXP platform. By the end of 2023, approximately 190 million vehicles worldwide have been equipped with Mobileye technology.
Mobileye (MBLY) has released its first Sustainability Report for 2023, highlighting its ESG initiatives and commitment to transportation safety. Key achievements include obtaining LEED Platinum Certification for its Jerusalem headquarters and deploying EyeQ™ system-on-chip in approximately 170 million vehicles worldwide. The company allocated $1.2 million to non-profit organizations and recycled 28 tons of material, with electronic waste making up 63% of diverted materials.
The report outlines Mobileye's focus on quality, product stewardship, privacy protection, and community well-being. Since its 1999 founding, the company has expanded its presence to six countries, offering Advanced Driver Assistance Systems (ADAS) and autonomous vehicle solutions to enhance road safety and improve driver experiences.
Intel has announced upcoming executive participation in two major investor conferences. Naga Chandrasekaran, executive vice president and chief global operations officer, will discuss Intel's business and foundry strategy at the UBS Global Technology Conference on December 4 at 12:35 PM PST. David Zinsner, executive vice president and CFO, will present Intel's business and financial strategy at the Barclays Global Technology Conference on December 12 at 8:40 AM PST. Both events will be available via live webcasts and replays on Intel's Investor Relations website.
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.
