Intel announces plans to create a separate entity for its foundry business, a structure that could help to raise outside funding; INTC jumps 7%+

Intel shares jumped almost 10% in extended trading on Monday after the company said it plans to turn its foundry business into an independent unit …

CNBC 2024-09-17

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@realmemes6 @realmemes6 on x
Something about how x86 is going to be used to leverage their AI approach, not sure what this means exactly. “x86 together strong!” They are reorganizing business units again. Intel analysts kept on their toes by having to redo their models every year😁 [image]
@realmemes6 @realmemes6 on x
The Intel board meeting approved the plans Pat has already communicated: - continue work with foundry but get more capital efficient - cut $10B in costs - refocus on x86 while driving AI strategy & streamlining product portfolio (less clear to me what this means) [image]
@benbajarin Ben Bajarin on x
Solid Intel Foundry win with AWS coming in for custom chip development. @PGelsinger also shared the results of the board meeting and IFS will be organized as an independent subsidiary. Not spinning out but as close as you can get. https://www.intel.com/... [image]
r/technology r on reddit
A message from Intel CEO Pat Gelsinger to employees regarding the next phase of Intel's transformation
r/AMD_Stock r on reddit
Intel stock jumps on plan to turn foundry business into subsidiary and allow for outside funding
r/wallstreetbets r on reddit
Intel turns Foundry Biz into a Subsidiary to get more Money
@patrickmoorhead Patrick Moorhead on x
Some major and primarily positive announcements for @Intel, some related to the recent BoD meeting. Thanks @pgelsinger for the time to walk me through this. Here's my take (not PG or $INTC): @AWSCloud & Intel multi-year wafer, Xeon 6 co-design: -multi-year, multi $B “framework” […
@thetranscript_ @thetranscript_ on x
$AMZN AWS CEO: “We firmly believe that AWS is the absolute best place to run Intel, to run AMD, to run Nvidia processors and we think that we can offer some differentiated capabilities by offering our own processors as well”
@ericjhonsa Eric Jhonsa on x
$AMZN is a very politically-sensitive company. Think that's important context for the $INTC announcement (replete with a quote from Ohio's governor). Nice W for Intel, but Amazon will keep working on Graviton, Trainium and Inferentia, all of which are for now fabbed by $TSM. [ima…
@quinnypig Corey Quinn on x
I look forward to the results of this being in future AWS keynotes that then immediately pivot to pushing their own Graviton chips instead.
@thetranscript_ @thetranscript_ on x
$INTC & $AMZN announces a co-investment in custom chip designs: “By co-developing next-generation AI fabric chips on Intel 18A, we continue our long-standing collaboration, dating back to 2006 when we launched the first Amazon EC2 instance featuring their chips” - $AWS CEO [image…
@anshelsag Anshel Sag on x
Amazon really wants dirt cheap Gravitons.
@pgelsinger Pat Gelsinger on x
@intel and @awscloud are expanding our longstanding strategic collaboration with a multi-year, multi-billion-dollar framework covering product and wafers from Intel. This collaboration will help customers power virtually any workload and help accelerate the performance of AI
@edludlow Ed Ludlow on x
Intel: $INTC list of action following last week's board meetings: AWS/Amazon named as a foundry customer. Both companies to coinvest in a custom semiconductor for artificial intelligence computing (Fabric chip). Will establish Intel Foundry as an independent unit. Will pause
r/hardware r on reddit
Intel to Make Custom AI Chip For Amazon, Delay German Plant
@intelnews @intelnews on x
Intel has been awarded up to $3B by the Biden-Harris Administration for the Secure Enclave program, designed to expand the trusted manufacturing of leading-edge semiconductors for the U.S. government. Learn more. https://www.intel.com/...
@danielnewmanuv Daniel Newman on x
And there it is...it's official👇🏻 Intel Awarded Up To $3B By Biden-Harris Administration Under CHIPS Act To Expand Trusted Semiconductor Manufacturing Through Secure Enclave Program (Including SHIP and RAMP-C) And btw, these are the facts. This is what the U.S. Government is
@intel @intel on x
@PGelsinger Our commitment to manufacturing semiconductors in the United States continues, thanks to the recent funding of the Secure Enclave program through the CHIPS and Science Act. Our work with the @DeptofDefense to create secure, cutting-edge solutions #StartsWithIntel!
@intelpolicy @intelpolicy on x
Today, @Intel was awarded up to $3 billion in direct funding for the @DeptofDefense's Secure Enclave program to continue safeguarding the U.S. supply chain and creating the world's most critical technologies for defense capabilities. Learn more.⬇️https:// www.intel.com/...
@pgelsinger Pat Gelsinger on x
Today, the Biden-Harris Administration and @DeptofDefense announced that @intel has been awarded up to $3 billion in direct funding under the CHIPS and Science Act for the Secure Enclave program - another step toward our shared goal of restoring American leadership in semiconduct…

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Intel announces plans to create a separate entity for its foundry business, a structure that could help to raise outside funding; INTC jumps 7%+

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