Intel shares jump on chip deal with Amazon
CNN
Intel’s struggling chip-making business got a boost Monday from a high-profile client: Amazon.
Intel’s struggling chip-making business got a boost Monday from a high-profile client: Amazon. The announcement came after Intel said earlier in the day it would receive up to $3 billion in funding under the CHIPS and Science Act to manufacture chips for the military. Intel Foundry and Amazon Web Services will coinvest in a custom chip design for the latter and “announced a multi-year, multi-billion-dollar framework,” according to a release. “Specifically, Intel Foundry will produce an AI fabric chip for AWS on Intel 18A,” Intel CEO Pat Gelsinger said in the statement Monday. Intel, once the world’s most dominant chipmaker, with a stranglehold on PCs and Macs, has struggled to keep up with the mobile computing wave and has been surpassed in market value by Qualcomm and Texas Instruments, both leaders in mobile chips. And, of course, there’s Nvidia, which rode the subsequent AI boom to become one of the most valuable public companies in the world.
Over the past two decades, the free-to-use online encyclopedia has carried on with its mission, expanding its global community of volunteer editors, known as Wikipedians, and ultimately resisting the kinds of platform decay that have claimed other 2000s-era internet phenoms.
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