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) announced the appointment of Elaine L. Chao to its Board of Directors as an independent director, effective June 7, 2024. Chao, a former U.S. Secretary of Transportation and Labor, brings extensive experience in technology, transportation, and business transformation. Her background includes roles in public, private, and nonprofit sectors, with two Cabinet positions confirmed by the U.S. Senate. She has served on several public company boards and holds degrees from Harvard and Mount Holyoke. Mobileye's CEO, Prof. Amnon Shashua, expressed confidence in Chao's positive impact on the company's mission to advance road safety through technology.
Mobileye, a leader in autonomous driving and driver-assistance technologies, has equipped about 170 million vehicles globally. The company, an independent entity from Intel since 2022, focuses on AI, computer vision, mapping, and integrated hardware/software, offering solutions from ADAS to autonomous vehicles.
Intel and Apollo have entered into a $11 billion joint venture for Intel's Fab 34 in Ireland. Apollo will acquire a 49% equity stake, while Intel retains 51% control. This is Intel's second SCIP arrangement, enhancing financial flexibility and supporting global manufacturing strategy. Fab 34, a state-of-the-art facility, began manufacturing processors in September 2023. The deal, expected to close by Q2 2024, allows Intel to redeploy capital and maintain its credit rating. Intel will continue to manage Fab 34 and fulfill wafer production commitments for itself and foundry customers.
At Computex 2024, Intel unveiled advancements in AI technology, including the Intel Xeon 6 processors and Intel Gaudi AI accelerators. The Xeon 6 processors, equipped with Efficient-cores (E-cores), offer enhanced performance and power efficiency, enabling 3:1 rack consolidation and performance gains of up to 4.2 times. The Gaudi AI accelerators provide high performance at lower costs, with Gaudi 2 and Gaudi 3 kits priced at $65,000 and $125,000, respectively. Additionally, the Lunar Lake architecture aims to revolutionize AI PCs with up to 40% lower system-on-chip power and 3 times the AI compute capacity. Intel's innovations span the data center, cloud, edge, and PC markets, emphasizing cost-effectiveness and performance.
Mobileye Global (Nasdaq: MBLY) has announced its participation in two significant conferences: the UBS Auto and Auto Tech Conference on June 5, 2024, and Deutsche Bank's Global Auto Industry Conference on June 11, 2024.
The company will webcast its “fireside chat” at the Deutsche Bank event, scheduled for 1:55 PM ET. Interested parties can register for the webcast and access the replay on Mobileye's investor relations site. Replays will be available for 90 days.
Event dates and participation are subject to change, and additional events will be announced later. For the latest updates, visit Mobileye's IR site.
Intel announced that key executives will participate in several upcoming investor conferences. John Pitzer, Corporate VP, Corporate Planning and Investor Relations, will discuss Intel's business and strategy at the Goldman Sachs Global Semiconductor Conference on May 30 at 7:50 a.m. PDT, and at the BofA Global Technology Conference on June 4 at 2:40 p.m. PDT. Saf Yeboah-Amankwah, Senior VP and Chief Strategy Officer, will talk about Intel’s automotive strategy at the Mizuho Auto Technology Conference on June 12 at 6:55 a.m. PDT. Live webcasts and replays of these sessions will be available on Intel’s Investor Relations website.
Kevin O’Buckley has been appointed as the senior vice president and general manager of Foundry Services at Intel, succeeding Stuart Pann. O’Buckley will lead Intel’s systems foundry growth strategy, aiming to build the world’s first systems foundry for the AI era. Intel Foundry’s business includes technology development, global manufacturing, and customer service. O’Buckley joins Intel with over 25 years of experience in the semiconductor industry, coming from Marvell Technologies and Avera Semiconductor.
Intel has announced that they have surpassed 500 AI models running optimized on their new Intel Core Ultra processors, which are the industry's premier AI PC processors. This milestone is a result of Intel's investment in client AI, framework optimizations, and AI tools, offering developers a wide range of AI experiences and immersive graphics. The models can be deployed across CPU, GPU, and NPU, enabling various AI inferencing tasks like large language processing, image classification, and computer vision. This achievement is important for Intel's efforts in supporting the AI PC transformation and providing a robust platform for AI development.
Intel has achieved a significant milestone in quantum computing by demonstrating the state-of-the-art uniformity, fidelity, and measurement statistics of spin qubits in a research published in Nature. The research opens the path for scalable silicon-based quantum processors, paving the way for fault-tolerant quantum computers. Intel plans to further advance its techniques to increase qubit count, connectivity, and performance in its next-generation quantum chip.
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