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Joe Biden set to rain subsidy windfall on Samsung, Intel, TSMC and others, for chips: Report

28Jan

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Technology

Joe Biden set to rain subsidy windfall on Samsung, Intel, TSMC and others, for chips: Report

[ad_1] According to a Wall Street Journal report, US President Joe Biden will soon announce subsidies top semiconductor companies like Samsung, Intel, TSMC (Taiwan Semiconductor Manufacturing Co) and others to make advanced chips in the US. The strategy is to keep the US and its allies as ahead of fierce rivals like China as is possible. The windfall is expected to be in the billions of dollars and it will be announced in coming weeks and this will be to help them build new factories in the U.S. The forthcoming announcements aim to kick-start manufacturing of advanced semiconductors that power smartphones, artificial intelligence, and weapons systems, the WSJ reported, citing industry executives familiar with the negotiations. The announcement is expected to come before President Biden'...

Computex 2023: Intel cedes spotlight at global tech gala to AI darling Nvidia

[ad_1] When Asia's biggest computing and electronics show kicked off this week, one name was conspicuously absent: Intel Corp. The US chipmaker does not have an official presence at this year's Computex exhibition, an event it once dominated through keynote speeches and an outsized footprint on the show floor. The 2023 edition opened instead with a marathon two-hour showcase by Nvidia Corp. Chief Executive Officer Jensen Huang, a day before it became the first $1 trillion chipmaker in anticipation of a wave of demand for its artificial intelligence processors.Intel, long synonymous with the fastest processors in the world, has seen its all-purpose chips overshadowed by Nvidia's more specialized, parallel-processing architecture that's superior at speeding up AI workloads. Intel rivals t...

US Chipmaker Intel Pledges More Cost Cuts as Sales Forecast Misses Estimates

[ad_1] Intel Corp., the largest US chipmaker, gave a quarterly revenue forecast that widely missed analysts’ estimates. Intel Corp., the largest US chipmaker, gave a quarterly revenue forecast that widely missed analysts' estimates, conceding that a slump in computer demand is dragging on longer than anticipated. Fourth-quarter revenue will be about $14 billion to $15 billion, the company said in a statement late Thursday, compared with analyst estimates for $16.3 billion. Profit, excluding certain items, will be 20 cents a share, below the average prediction of 66 cents. While the downturn persists, the company pledged to step up its already-aggressive cost-reduction efforts, sending the shares higher in extended trading. Chief Executive Officer Pat Gelsinger needs a rapid rebou...