Chipmaker Qualcomm is trying to buy rival Intel, according to multiple reports. The Wall Street Journal broke the news late Friday that Qualcomm had approached Intel about a takeover. The New York Times subsequently corroborated the story, while adding that no official offer has been made. Even if there is an offer, it’s not clear […]
Intel moves to spin out foundry business, inks AI chip deal with AWS
Intel has announced a key customer win and changes to its foundry business as the beleaguered chipmaker looks to execute a turnaround. Intel is taking steps to transition its chip foundry division, Intel Foundry, to an independent subsidiary, Intel CEO Patrick Gelsinger said in a blog post. Intel Foundry’s leadership isn’t changing, and the subsidiary […]
Intel to lay off 15,000 employees
Intel announced it would layoff more than 15% of its staff, or 15,000 employees, in a memo to employees on Thursday. The massive headcount is part of a large plan to reduce spending by $ 10 billion in 2025, following a dismal second quarter earnings report and outlook. “Our revenues have not grown as expected […]
Intel Capital backs AI construction startup that could boost Intel’s own manufacturing prospects
Intel could be giving its burgeoning foundry ambitions a much-needed shot in the arm, as the chip giant’s venture capital arm today revealed that it’s making a “strategic” investment in an Israel- and U.K.-based AI construction startup. Intel Capital is leading a $ 15 million investment into Buildots, a company that uses AI and computer […]
Lucid loses longtime Apple and Intel exec who steered software division
Lucid Motors’ senior vice president of digital Mike Bell has resigned from his position. The company said in a filing Monday that the longtime Apple and Intel executive’s resignation is “effective immediately, in order to pursue other opportunities.” Lucid says Bell will serve in an advisory role through mid-August to help “transition” his duties at […]