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.
So far, the attacks that targeted Iran-backed Lebanese militant group Hezbollah members through their pagers have had devastating consequences. At least nine people, including an eight-year-old girl, were killed, and at least 2,800 were wounded. Over 150 of those injured are in critical condition, according to the Lebanese health minister.