intel
San Francisco (AFP) - US chip giant Intel on Thursday said it made more money than expected in the recently ended quarter as it continued to invest in a "geographically balanced" supply chain. Intel shares jumped more than 7 percent to $34.88 in after-market trades. "We delivered a standout third quarter, underscored by across-the-board progress on our process and product roadmaps; agreements with new foundry customers, and momentum as we bring AI everywhere," said Intel chief executive Pat Gelsinger. Intel reported revenue of $14.2 billion, which was 8 percent less than the amount seen in the...
AFP
Brussels (AFP) - The European Commission slapped a new fine of 376 million euros ($400 million) on US chipmaker Intel on Friday after an EU court annulled a previous record penalty for abusing its dominance in the computer chip market. The case is one of many protracted legal battles against tech behemoths the European Union has faced, fights which have driven Brussels to introduce tough new curbs on how digital giants do business in Europe. The EU's antitrust enforcer said Intel had engaged in "anti-competitive practices aimed at excluding competitors from the relevant market". The commission...
AFP
New York (AFP) - US chip giant Intel will invest up to $4.6 billion to build a new site in Poland, creating around 2,000 jobs, the company said Friday. Its new facility, to be located in the southern Polish city of Wroclaw, "will help meet critical demand for assembly and test capacity that Intel anticipates by 2027," Intel said in a statement. The investment in Poland is aimed at helping the European Union develop a more resilient semiconductor supply chain and reducing dependence on Asia, the statement added. Polish Prime Minister Mateusz Morawiecki hailed the announcement as an element of "...
AFP
San Francisco (AFP) - The crucial semiconductor industry, that powers everything from personal computers, smartphones to fighter jets, suffered a dismal first quarter as demand plummeted for chips. Intel on Thursday posted a massive fall in sales for the first quarter of 2023 because of a steep drop in the demand for semiconductors, especially those for PCs. Rising prices, a global chip glut and poor demand for hardware also punished Intel's rival Samsung Electronics, which earlier on Thursday reported its worst quarterly profits in 14 years. Intel's revenue fell 36 percent to $11.7 billion in...
AFP
Berlin (AFP) - American chip-making giant Intel said on Tuesday it planned to invest tens of billions of euros in the European Union, as the continent seeks to reduce its reliance on semiconductors from Asia. The project to boost the entire production process, from the research of new technologies to the manufacturing and packaging of semiconductors, could total up to 80 billion euros ($87.9 billion) over the next decade, the group said in a statement. The production of the key technology, also known as chips, has become a strategic priority in Europe as well as the United States, after the sh...
AFP
San Francisco (AFP) - Intel on Wednesday said 2021 was a record year for sales at the chip maker as it navigated unprecedented demand and supply chain constraints. The US-based firm also saw costs rise and margins shrink as it shifted to a more sophisticated line of semi-conductors, analysts noted. "The fourth quarter represented a great finish to a great year," said Intel chief executive Pat Gelsinger. Intel revenue for last year tallied $79 billion, some $20.5 billion of which it took in during the final three months, according to its earnings report. Profit in the quarter was $4.6 billion, ...
AFP
Washington (AFP) - President Joe Biden on Friday praised Intel's plans to spend $20 billion on a new US semiconductor facility, hailing the "historic" investment even as a global chip shortage fans the inflation wave weighing on his leadership. Biden is urging manufacturers to bring production back to the United States, which was once a leader in making the chips key to everything from vacuums and televisions to cars which have become scarce during the pandemic. Intel said it plans to begin construction at the end of the year on two plants in the Midwestern state of Ohio, and chip production c...
AFP
San Francisco (AFP) - US semiconductor giant Intel on Thursday said it took in more money than expected in the first quarter amid "explosive" growth in demand for computer chips. Intel revenue was $19.7 billion during the first three months of this year, up nearly $1 billion from the same period in 2020, according to its earnings report. "Intel delivered strong first-quarter results driven by exceptional demand for our leadership products and outstanding execution by our team," chief executive Pat Gelsinger said in a release. The results come as trends in remote work, school and socializing dr...
AFP
San Francisco (AFP) - US chip titan Intel said Tuesday it will invest $20 billion in building two new plants in Arizona as part of a plan to ramp up production in the United States and Europe. The move comes as a global chip shortage has countries and companies in those regions looking to reduce reliance on plants in Asia for semiconductors, which are used in a growing array of products such as cars. "Intel's investment will help to preserve US technology innovation and leadership, strengthen US economic and national security, and protect and grow thousands of high-tech, high-wage American job...
AFP
San Francisco (AFP) - A federal jury in Texas on Tuesday ruled that US computer chip giant Intel should pay $2.2 billion to VLSI Technology in a patent infringement case. Intel said it would appeal the decision. "Intel strongly disagrees with today’s jury verdict," spokesman William Moss said in reply to an AFP inquiry. "We intend to appeal and are confident that we will prevail." The suit filed by patent-holding company VLSI in early 2019 accused Intel of violating patents involving memory cache and voltage regulation in its chips, according to legal documents. The litigation contended that t...
AFP
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