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Intel Corp

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business1 month ago•4 min saved

Shareholder sues over 10% US government stake cited as shield against Trump pressure

A shareholder-led Delaware Court of Chancery suit claims Intel’s CEO Lip-Bu Tan and the board granted the US government a 10% stake in Intel—worth about $11 billion—without meaningful consideration, allegedly to protect executives from extortion-like threats and social-media attacks by Donald Trump. The deal, funded by converting Biden-era CHIPS Act grants, followed Trump’s criticisms and a White House visit, and the complaint also targets Skadden for advising both Intel and the government; it seeks to unwind the arrangement. Intel declined to comment, and the stock has risen since the deal was struck as the company pursues its foundry ambitions.

via Financial Times|

#business #chips-act #delaware-court-of-chancery

finance2 years ago•0 min saved

"Global Markets Await Fed's Rate Decision as Stocks Hit Record Highs"

Luxury stocks in Europe, including Kering SA, LVMH, Burberry Group Plc, and Christian Dior SE, faced losses after Kering warned about declining sales, raising concerns about high-end consumer spending in China. Treasuries and US equity futures remained steady ahead of the Federal Reserve meeting. Meanwhile, Intel Corp. saw a rise in premarket trading after securing nearly $20 billion in US grants and loans.

via Bloomberg|

#federal-reserve #finance #intel-corp

technology2 years ago•0 min saved

"Pentagon Withdraws $2.5B Intel Defense Chips Grant, Biden to Announce New Plan in Arizona"

President Biden and Commerce Secretary Raimondo are set to announce a multi-billion-dollar grant for Intel Corp to expand chip production in Arizona next week, as part of the U.S. CHIPS Act's efforts to boost domestic semiconductor production. Intel, with facilities in Arizona, has invited stakeholders to the event, and the U.S. government has been working to increase domestic semiconductor production through substantial funding.

via Yahoo Finance|

#arizona #intel-corp #joe-biden

businessfinance2 years ago•3 min saved

Intel Corp (INTC) Reports Strong Q4 Earnings but Disappoints with Q1 Guidance

Intel Corp (INTC) reported a 10% year-over-year increase in Q4 revenue, reaching $15.4 billion, but experienced a 14% decline in full-year revenue. The company achieved $3 billion in cost savings in 2023 and provided a cautious outlook for Q1 2024, projecting revenue between $12.2 billion and $13.2 billion. Despite challenges in the semiconductor industry, Intel's focus on operational efficiency and expansion into new business areas, such as AI and foundry services, may present opportunities for value investors.

via Yahoo Finance|

#businessfinance #intel-corp #operational-efficiency

technology2 years ago•3 min saved

"Unstoppable Chip Stocks Dominate the Market, Still Gaining Momentum"

The semiconductor industry, particularly in the AI and Web 3.0 era, offers growth and security opportunities for top-performing chip stocks. Nvidia leads in AI-driven computing with impressive financial results and a range of growth catalysts. Advanced Micro Devices is making strides in AI chips and expanding into embedded computing. Intel aims to regain chip manufacturing leadership with its AI chips and investments in facilities. These chip stocks continue to outperform and have room for further growth.

via InvestorPlace|

#advanced-micro-devices #chip-stocks #intel-corp

stock-market2 years ago•0 min saved

Stock Market Update: Seagen and Activision Blizzard Soar, Scholastic and Intel Plummet

Scholastic Corp. reported a larger-than-expected loss in its fiscal first quarter, causing its stock to drop. Meanwhile, Activision Blizzard received preliminary approval from British antitrust regulators for Microsoft's buyout of the company. Seagen Inc. provided a positive update on a potential treatment for bladder cancer, leading to a rise in its stock. Alibaba Group Holding Ltd. is reportedly planning to file for an IPO in Hong Kong for its logistics arm, Cainiao. Intel Corp. faced a fresh $400 million fine from European Union antitrust enforcers in an ongoing legal battle.

via The Associated Press|

#activision-blizzard-inc #alibaba-group-holding-ltd #intel-corp