5 Minutes Read

Intel nears $11 billion deal with Apollo for Ireland facility: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Other investment firms including KKR and infrastructure investor Stonepeak were also said to be in the running before Apollo recently pulled ahead.

Intel is in advanced talks for a deal with Apollo Global Management in which the latter would provide more than $11 billion to help build a chip factory in Ireland, the Wall Street Journal reported on Monday.

The move comes as Intel looks to expand its presence across the United States with a planned $100-billion spending spree across four states to boost its manufacturing business and catch up with chipmaking rival TSMC.

Intel and Apollo are in exclusive talks for the deal, which could be signed in the coming weeks, the report said, citing people familiar with the matter.

Other investment firms including KKR and infrastructure investor Stonepeak were also in the running before Apollo recently pulled ahead, the report added.

Intel and Apollo Global Management did not immediately respond to Reuters requests for comment.

Intel forecast second-quarter revenue and profit below market estimates last month as it faces weak demand for its traditional data centre and personal computing chips amid a surging market for AI components.

The company announced plans in 2022 to build chip facilities in Ireland and France as it seeks to benefit from easier European Commission funding rules and subsidies.

Also Read: Intel to launch two AI chips for China with reduced capabilities

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

US revokes Intel, Qualcomm licences to sell chips to Huawei

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Withdrawal of the licenses affects US sales of chips for use in Huawei phones and laptops, according to the people, who discussed the move on condition of anonymity. House Foreign Affairs Committee Chairman Michael McCaul confirmed the administration’s decision in an interview Tuesday. He said the move is key to preventing China from developing advanced AI.

The US has revoked licenses allowing Huawei Technologies Co to buy semiconductors from Qualcomm Inc. and Intel Corp., according to people familiar with the matter, further tightening export restrictions against the Chinese telecom equipment maker.

Withdrawal of the licenses affects US sales of chips for use in Huawei phones and laptops, according to the people, who discussed the move on condition of anonymity. House Foreign Affairs Committee Chairman Michael McCaul confirmed the administration’s decision in an interview Tuesday. He said the move is key to preventing China from developing advanced AI.

“It’s blocking any chips sold to Huawei,” said McCaul, a Texas Republican who was briefed about the license decisions for Intel and Qualcomm. “Those are two companies we’ve always worried about being a little too close to China.”

While the decision may not affect a significant volume of chips, it underscores the US government’s determination to curtail China’s access to a broad swathe of semiconductor technology. Officials are also considering sanctions against six Chinese firms that they suspect could supply chips to Huawei, which has been on a US trade restrictions list since 2019.

The US Commerce Department confirmed the withdrawal of “certain licenses” for exports to Huawei, but declined to offer specifics. The Democratic administration has come under pressure to do more to stop Huawei and other Chinese tech companies after signs of progress in the country’s semiconductor development.

“We continuously assess how our controls can best protect our national security and foreign policy interests,” the agency said in a statement Tuesday.

Qualcomm shares slipped 0.9% Tuesday to $180.15 following a Financial Times report earlier in the day on the license revocation. Intel’s stock was little changed, at $30.68.

Qualcomm recently said that its business with Huawei is already limited and will soon shrink to nothing. It has been allowed to supply the Chinese company with chips that provide older 4G network connections. It’s prohibited from selling ones that allow more advanced 5G access.

“This is small,” said Stacy Rasgon, an analyst at Sanford C. Bernstein. “Qualcomm has already said that the Huawei business is going away anyway.”

Huawei doesn’t rank in Qualcomm’s list of top 10 customers, according to Bloomberg supply chain analysis. It also doesn’t feature in Intel’s list of top customers.

Rasgon points out that Huawei only ships about five million desktop and notebook computers annually, or 2% of the market, so even if Intel has been supplying all the processors for those the impact on Intel’s earnings will be minimal.

The US is also pressing allies including Japan, the Netherlands, South Korea and Germany to tighten curbs on selling and maintaining chip manufacturing tools in China — with Huawei as the main target of that effort.

McCaul and other Republican lawmakers, including House Republican Conference Chairwoman Elise Stefanik and Senator Marco Rubio, have urged Commerce to revoke licenses for companies to sell chips to Huawei. Their calls escalated after the company unveiled a smartphone powered by an advanced, made-in-China processor while Commerce Secretary Gina Raimondo was visiting China in August.

The Biden administration has opened a probe into the “purported” 7-nanometer chip, which a Bloomberg teardown revealed was made by Chinese chipmaker Semiconductor Manufacturing International Corp. SMIC may have violated US law if it supplied that chip to Huawei, a Commerce official said earlier this year.

The chip was manufactured using Dutch and American technology, Bloomberg has reported, indicating that China is still reliant on foreign tools to produce its most advanced semiconductors despite Beijing’s efforts to build a full domestic supply chain.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Intel shares tumbled 7% in trade-here’s why

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

According to data from the London Stock Exchange Group (LSEG), Intel’s second-quarter revenue forecast of $12.5 billion to $13.5 billion falls short of analysts’ expectations, who had pegged the figure at $13.57 billion.

Chipmaker Intel witnessed a significant setback in premarket trading on Friday, with its shares plunging over 7% amidst a bleak sales forecast for the second quarter. The root cause of this downturn lies in a notable shift in enterprise spending patterns away from Intel’s traditional data centre and PC chips, towards artificial intelligence (AI).

Intel’s stock has been on a downward trajectory throughout the year, marking a 30% decline thus far. Lagging behind competitors such as Nvidia in advanced AI chip production, the company finds itself grappling with a landscape increasingly dominated by innovative AI components.

According to data from the London Stock Exchange Group (LSEG), Intel’s second-quarter revenue forecast of $12.5 billion to $13.5 billion falls short of analysts’ expectations, who had pegged the figure at $13.57 billion.

“While we believe they are doing everything they can to try to repair things, it is clear that the company is profoundly broken, and it will take years to see the fruits of their (currently exhaustive) labour,” Reuters quoted Bernstein analysts.

In a bid to regain momentum, Intel has announced a monumental $100 billion investment spree across four states in the US, aimed at bolstering and expanding its manufacturing capabilities. Additionally, the company unveiled a new AI chip earlier this year.

The shift in spending patterns among businesses, favouring swift and advanced AI server chips over Intel’s traditional central processing units (CPUs), has dealt a blow to the company’s bottom line. Historically, Intel’s CPUs have been the cornerstone of data centre operations for decades.

Despite the prevailing challenges, Intel remains optimistic about a potential resurgence in PC sales in the latter half of the year. A forthcoming upgrade cycle surrounding the release of a new iteration of Microsoft’s Windows operating system is anticipated to fuel demand for PCs, consequently boosting sales of Intel chips.

However, Intel’s struggles stand in stark contrast to the robust performance reported by tech giants Microsoft and Google, both of which are clients of AI chip leader Nvidia. Notably, these companies have also ventured into designing in-house chips for their data centres, further intensifying competition in the semiconductor market.

(With inputs from Reuters)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Intel announces Santhosh Viswanathan as India region head

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Viswanathan assumed the role of Vice President and Managing Director for the Indian market in July 2022. Now, Intel has designated India as a distinct region.

Computer chip maker Intel, on Friday, announced Santhosh Viswanathan as the Managing Director (MD) for its India region business. Viswanathan, who has been with Intel for about 21 years, will take on this role.

In March this year, Intel declared India as a separate region within its SMG (Sales, Marketing, and Communications Group) organisation, aiming to capitalise on the country’s rapid growth and business opportunities.

Intel stated, “Santhosh Viswanathan, VP and MD-India region, will lead the newly formed region, leveraging his expertise to drive value and customer-centricity.”

Viswanathan assumed the role of Vice President and Managing Director for the Indian market in July 2022. Now, Intel has designated India as a distinct region.

The company also disclosed the appointment of Hans Chuang as the General Manager (GM) of SMG Asia Pacific and Japan (APJ). Based out of Taiwan, Hans will oversee Intel’s overall business in the APJ region, including revenue growth, fostering new opportunities within the local ecosystem, and fortifying existing customer and partner relationships, according to Intel.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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 5 Minutes Read

Intel to launch two AI chips for China with reduced capabilities

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Intel’s China-specific AI chips are based on the company’s latest Gaudi 3 product line, which was unveiled on April 9, with similar hardware features including on-chip memory, high-bandwidth memory, and interface standards.

Intel will release two AI chips with reduced capabilities for the Chinese market, in order to comply with US export controls and sanctions.

The two chips, HL-328 and HL-388, are scheduled for launch in June and September, respectively, according to a white paper on the company’s website dated April 12.

Tech outlet The Register first reported the plans from the white paper.

Rival Nvidia also has plans for three China-specific chips after the United States late last year tightened a rule capping the capabilities of AI chips that can be shipped to China.

Intel’s China-specific AI chips are based on the company’s latest Gaudi 3 product line, which was unveiled on April 9, with similar hardware features including on-chip memory, high-bandwidth memory, and interface standards.

However, to comply with the export control regulations, the performance of the chips will be significantly reduced.

One of Nvidia’s China-specific chips, the H20, is set to be delivered in small batches in the first quarter of 2024, with larger quantities expected from the second quarter, Reuters reported in January.

Also Read: US updates export curbs on AI chips and tools to China

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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China tells telecom firms to phase out foreign chips in blow to Intel, AMD: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

China was Intel’s largest market last year and was responsible for more than 27% of Intel’s total revenue.

Chinese officials directed the country’s largest telecom carriers earlier this year to phase out foreign chips that are key to their networks by 2027, the Wall Street Journal reported on Friday, citing people familiar with the development.

The move would impact US chip giants Intel and Advanced Micro Devices (AMD), according to the report. Their shares were down more than 1.5% in premarket trading.

Intel and AMD did not respond to Reuters requests for comment.

Beijing has ramped up efforts to replace Western-made technology with domestic alternatives amid Sino-US trade tensions, as Washington tightens curbs on high-tech exports to its rival, Reuters reported late last year.

State-owned enterprises were instructed in 2022 to replace office software systems with domestic products by 2027, the first time such specific deadlines were imposed, according to five brokerage firms that cited a September 2022 order from China’s state asset regulator. Reuters could not independently verify the order.

China’s Ministry of Industry and Information Technology ordered state-owned mobile operators to inspect their networks for non-Chinese semiconductors and map out timelines to replace them, the WSJ report said.

Beijing had introduced guidelines to phase out US chips from Intel and AMD from government personal computers and servers, the Financial Times reported in March.

China was Intel’s largest market last year and was responsible for more than 27% of Intel’s total revenue.

Procurements by Chinese telecom carriers show they are increasingly switching to domestic options. This has been made possible in part by the improved quality and stability of local chips, according to the WSJ report.

Also Read: US updates export curbs on AI chips and tools to China

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Infosys, Intel expand collaboration to speed up AI adoption by businesses worldwide

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Infosys Topaz — an AI-first set of services, solutions and platforms that helps enterprises accelerate business value using generative AI technologies — will adopt Intel-based solutions, including Intel Xeon processors, Intel Gaudi accelerators, among others. Shares of Infosys Ltd ended at ₹1,506.70, up by ₹12, or 0.80%, on the BSE.

Infosys Ltd and Intel on Wednesday (April 10) said they have expanded their strategic collaboration to assist global enterprises in accelerating their artificial intelligence (AI) journeys.

The advanced AI solutions offered as a part of this collaboration will aim to help businesses become cost-effective and performance-driven while being responsible, Infosys said in a regulatory filing.

Infosys Chairman Nandan Nilekani with Christoph Schell, Executive Vice President and Chief Commercial Officer, Intel.

Infosys Topaz — an AI-first set of services, solutions and platforms that helps enterprises accelerate business value using generative AI technologies — will adopt Intel-based solutions, including Intel Xeon processors, Intel Gaudi accelerators, Intel Core Ultra processors, software, and future-generation products, to enable customers to integrate Gen AI into their businesses and adhere to the emerging guardrails of AI.

Also Read: Infosys co-founder N Narayana Murthy’s ‘big regret’

Additionally, Infosys will leverage the Intel AI training assets to skill up its employees on the Intel product portfolio to provide generative AI expertise to its wide network of global customers across industries, the IT company said.

Balakrishna D.R. (Bali), Executive Vice President, Global Services Head, AI and Industry Verticals, Infosys, said, “Infosys has embraced an AI-first strategy to deliver advanced AI services to clients seeking to unlock significant business value across their operations. The Infosys Topaz offerings and solutions seamlessly complement Intel’s core stack and its ‘AI Everywhere’ strategy.”

Christoph Schell, Executive VP and Chief Commercial Officer, Intel Corporation, said, “Customers and developers are looking for competitive TCO and time-to-value AI solutions to scale and win. Our approach in bringing AI everywhere is by supporting an open AI software ecosystem and accelerating the adoption of Intel Xeon and Gaudi accelerators for Gen AI use cases.”

Also Read: Infosys to receive ₹6,329 crore tax refund from I-T department

Shares of Infosys Ltd ended at ₹1,506.70, up by ₹12, or 0.80%, on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Intel reveals details of new AI chip to fight NVIDIA dominance

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

ntel unveiled its latest AI chip, Gaudi 3, challenging NVIDIA’s dominance in AI semiconductors. Promising faster training and inference speeds, it aims to offer customers more options in the market.

Intel detailed a new version of its artificial intelligence chip at its Vision event on Tuesday that takes aim at NVIDIA’s dominance in semiconductors that power AI.

WHY IT IS IMPORTANT

Tech companies are hunting for an alternative source of the scarce chips that are needed for AI. Intel said that its new Gaudi 3 chip was capable of training a specific large language models 50% more quickly than Nvidia’s prior generation H100 processor. It is also capable for computing generative AI responses, a process called inference, more quickly than the H100 chips for some of the models Intel tested.

”Our customers, first and foremost, are asking for choice in the industry,” said Intel vice president, strategy and product management Jeni Barovian. ”They are coming to us and they are expecting that Intel, as a computing leader, will follow the wave of (generative AI) and deliver solutions that meet their needs. And they are looking for an open approach.”

Also read: HP Omen Transcend 14 Review: Portable, powerful and packed with features

Intel and Advanced Micro Devices have struggled to produce a compelling bundle of chips and the software necessary to build AI applications that can become a viable alternative to Nvidia. Nvidia controlled roughly 83% of the data center chip market in 2023, with a majority of the remaining 17% share held by Google’s custom tensor processing units (TPUs) that it does not sell directly.

Intel used Taiwan Semiconductor Manufacturing Co’s 5nm process to build the chips. Gaudi 3 includes two main processor chips fused together, and is more than twice as fast as its predecessor. The chip is designed to be strung together with thousands of others and when done so can generate an enormous amount of compute power.

The Gaudi 3 chip will be available to server builders such as Supermicro and Hewlett Packard Enterprise in the second quarter of this year.

The next generation of Gaudi chips will be code named Falcon Shores.

Also read: Italy considers tougher penalties for AI-related crimes

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Intel factory losses widen as company plots costly comeback

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Intel’s CEO though is confident of the company regaining its dominant status by next year in a market dominated by TSMC, AMD and NVIDIA.

Intel Corp., revealing new details about its manufacturing operations, said that losses have deepened at the chipmaker’s factory network and the business may not reach a break-even point for several years.

Intel fell more than 4% in extended trading after disclosing the numbers. The shares had been down 1.3% to $43.94 in regular trading Tuesday, bringing their year-to-date drop to 13%.

Intel is giving a more detailed picture of its finances as part of an ambitious turnaround plan by Chief Executive Officer Pat Gelsinger. He’s breaking out the results from the factory network as a step toward having it operate more independently. The business is seeking to make chips for other companies, and giving it some separation from the rest of Intel is vital to that strategy.

The company’s new timeline and financial targets show the challenges of the effort, which includes investing billions of dollars into new plants.

The company expects 2024 to be the peak of its losses and that Intel Foundry will be profitable, on an operating level, “midway between now and the end of 2030.” The chipmaker also named Lorenzo Flores as chief financial officer of the division.

Intel’s push into outsourced chip production — known as the foundry industry — is one of the company’s biggest transformations in its history. Gelsinger’s comeback effort also includes restoring Intel’s once-unassailable technology edge — something that the chip pioneer lost in the years before he took the reins in 2021.

Intel’s struggles have forced it to outsource the manufacturing of some vital components, Gelsinger revealed in the presentation. It now buys about 30% of its silicon wafers, he said. But by improving Intel’s technology — using a technique called extreme ultraviolet lithography — the company intends to bring more of this production back in-house, he said.

The CEO repeated his assertion that Intel will restore its technology advantage by next year. Over time, that will improve the capabilities of Intel’s products and make them cheaper to manufacture. It will also allow the company to win orders from competitors, something that will provide as much as $15 billion in sales by the end of 2030, Gelsinger said.

Intel said there are five such companies committed to using its latest production technique, called 18A. It will become more widely used starting next year and gather momentum after that, the company said.

Taiwan Semiconductor Manufacturing Co. currently dominates the foundry market and has eclipsed Intel in overall revenue. That company had 2023 sales of $69.4 billion and net income of $26.9 billion. Its gross margin — the percentage of sales remaining after deducting the cost of production — was 54%. And its sales are projected to expand 20% in 2024 to $83.4 billion.

Intel’s closest rival in its traditional business is Advanced Micro Devices Inc., which had revenue of $22.7 billion and net income of $854 million last year. Its gross margin was 50%. This year the company is on course for a sales jump of 14%, according to analysts.

Nvidia Corp., meanwhile, has quickly emerged as the star of the industry. Though it doesn’t yet have the revenue of TSMC, its sales more than doubled last year — and another stratospheric gain is projected for this year. The company has a commanding lead in the market for artificial intelligence accelerators, which help companies develop AI models.

Intel has embarked on a record-setting expansion of its factories in the US and Europe, taking advantage of government incentives such as the Chips and Science Act. But even with that support, it’s an expensive undertaking that has put investors on edge.

The company telegraphed earlier this year that its manufacturing finances are “under significant pressure” as the chipmaker tries to restore its technological capabilities and builds its infrastructure.

Chief Financial Officer Dave Zinsner, who joined Gelsinger in taking questions from analysts Tuesday, acknowledged that there’s plenty of room for improvement. But separating out the manufacturing group — and treating the company’s product division as a customer — has already yielded benefits, he said. There’s been a huge reduction in expensive requests for expedited work and test chips, he said.

The company has also had some client wins. In February, Intel announced that Microsoft Corp.’s internal chip design effort will become a customer for the foundry business. Gelsinger has said he’s ahead of schedule in getting other clients to sign up, but is unable to name them because they don’t wish to go public.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

AI-enabled PCs set for 60% market share by 2027 — how experts view changing landscape

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

In a report from December 2023, research firm Canalys predicts that the PC market will see an 8% annual growth in 2024 as more AI PCs emerge and people look to upgrade from their COVID-19 pandemic-era computers.

The race for AI-ready personal computers is heating up, with expectations of substantial growth in the PC market fuelled by rapidly-advancing artificial intelligence technology. In a report from December 2023, research firm Canalys predicts that the PC market will see an 8% annual growth in 2024 as more AI PCs emerge and people look to upgrade from their COVID-19 pandemic-era computers.

Chipmakers seem to take the biggest piece of this pie with record-breaking growth. Nvidia currently has a market cap of $2.232 trillion and is the third-most valuable company in the world, overtaking giants like Amazon and Alphabet. Advanced Micro Devices, also known as AMD, too broke records with a market cap closing of above $300 billion for the first time in February 2024. Intel is also on the road to recovery with its AI bet on the latest Core Ultra chips.

What Intel’s latest AI chips are all about

For users like me and you, what this translates into is more powerful laptops and computers than ever before. According to Akshay Kamath, Director of PC Client Category, Intel India, the chipmaker’s Core Ultra processors — launched in December 2023 — represent its biggest architectural shift in 40 years.

These chips come with dedicated AI acceleration capability across the central processing unit (CPU), graphics processing unit (GPU) and neural processing unit (NPU) architectures, which translates into improved battery performance such as up to 40% improved efficiency in day-to-day activity and even up to 25% less power consumption while watching Netflix compared to our previous generation mobile processors.

“The Intel Core Ultra processors also feature support for latest platform technologies Intel Wi-Fi 6E (Gig+) and New Intel Wi-Fi 7 (5 Gig) wireless connectivity, Thunderbolt 4, and Intel Bluetooth 5.4 for LE audio & multi-stream audio for true wireless stereo,” Kamath added.

Intel works with several original equipment manufacturers (OEMs) to help users access this power. According to Kamath, the collaborative process involves providing early access to products, offering reference designs, and tapping into Intel’s pool of over 13,000 engineers in Bengaluru.

“We recognise the importance of a robust go-to-market strategy. Thus, we provide access to a global network of events and platforms, ensuring that Indian manufacturers have avenues to showcase and distribute their products worldwide,” he added.

Acer’s goal: AI for all

One of the first manufacturers to implement the Core Ultra chips was Acer, which unveiled its Swift Go 14 laptop along with Intel’s AI-powered processors. The device is priced at ₹84,999 and is available in India in both Intel and AMD configurations.

Harish Kohli, President & Managing Director, Acer India, said the company is also actively expanding its AI product range with a broader selection of models at different price points. “We anticipate that as AI technology becomes more prevalent, it’s important that we make AI-ready devices accessible to large masses,” he added.

Kohli also believes that meaningful AI integrations are primarily anticipated in the premium segment, typically priced at ₹80,000 and above in the PC market. “This anticipation stems from the growing availability of laptops equipped with AI-ready software and hardware within this price range. As the market evolves and competition increases, prices are expected to come down, facilitating broader access to AI technology beyond the premium tier,” he said.

Acer’s competitive pricing strategy paired with its proprietary AI software suite, like the Acer AI Zone, is what sets it apart from the industry, according to Kohli. The company’s goal is to ensure that more individuals can experience the benefits of AI, be it for work, gaming, or content creation.

Further, Acer is not limited to laptops or PCs. “Acer’s greatest strength lies in our extensive product lineup, spanning a wide array of categories, including tablets, PCs, monitors, desktops, servers, workstations, and consumer lifestyle products,” Kohli said.

Rising market

The market for AI PCs is still very new with only a handful of options available across brands and at a premium price. Canalys believes that Intel’s market dominance can drive more significant AI PC adoption from 2024 onwards. By the end of this year, shipments are expected to reach around 20 million units, capturing over 25% of global PC shipments.

The share is expected to increase to 60% by 2027 and the sector is set to rise at a compound annual growth rate (CAGR) of 64%.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?