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UK is in talks with Tech Giants on AI chips, Telegraph reports

20Aug

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Technology

UK is in talks with Tech Giants on AI chips, Telegraph reports

[ad_1] UK government officials have held discussions with tech giants Nvidia Corp., Advanced Micro Devices Inc. and Intel Corp. about procuring equipment for national artificial intelligence research, according to the Telegraph.The government has allocated £100 million ($127 million) for AI chips, the Telegraph reported on Sunday. It said efforts may be in “advanced stages” of an order of as much as 5,000 graphics processing units from Nvidia. Prime Minister Rishi Sunak has vowed to make the UK a global science and technology “superpower” by 2030. The premier is targeting a summit later this year that aims to bring together world leaders and top AI executives in an event supported by US President Joe Biden. A $5.4 billion international chip deal with Intel is off after greenlight from C...

Amazon, Apple earnings to provide look at consumer habits

[ad_1] Consumer habits will come to the fore again in next week's earnings deluge, when Amazon.com Inc., Shopify Inc. and PayPal Holdings Inc. are expected to talk about online spending trends and Apple Inc. may comment on the outlook for iPhone sales.It follows a packed week that showed the US economy and consumer spending growing at a faster clip than expected, while corporate earnings delivered a few surprises of their own. Intel Corp. surged post-market after the chipmaker signaled its long-awaited comeback may be just around the corner; McDonald's Corp. and Mastercard Inc. also topped estimates. Thus far, US companies have registered the most earnings beats in almost two years, according to data tracked by Bloomberg Intelligence, and companies selling non-essential products and ser...

Intel’s Troubles Run So Deep Even Bulls Are Wary

[ad_1] With the most sell ratings in the Nasdaq 100 Stock Index, Intel Corp. is running ever lower on fans. Things have gotten so bad that even analysts brave enough to recommend buying are striking a cautious tone. One of those, Srini Pajjuri at Raymond James, reasons that the chip designer's “many problems” are unlikely to get much worse in the near term. “We believe that the 2023 bar is low enough and expect the company to benefit from cyclical tailwinds and aggressive cost cuts,” Pajjuri wrote in a note last week, resuming coverage with an outperform recommendation. Another advocate, Gus Richard at Northland Securities, is sticking to his outperform rating, even after saying that buying the stock in the wake of January's ugly earnings report would likely make investors “phys...