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☆ Intel used to dominate the U.S. chip industry. Now it's struggling to stay relevant
  + stars: | 2024-04-26 | by ( Kif Leswing | ) www.cnbc.com   time to read: +16 min
David Paul Morris | Getty Images News | Getty ImagesThe iPhone could have had an Intel chip inside. It would've made sense to use Intel chips, which ran on the best desktops at the time, including Apple's Macs. Braithwaite, who worked at Intel in the 1980s, said Intel's process engineers were the company's "crown jewels." Intel doesn't have a GPU competitor to Nvidia's AI accelerators, but it has an AI chip called Gaudi 3. For comparison, AMD expects about $2 billion in annual AI chip revenue.
Persons: Pat Gelsinger, Seth Wenig, Gelsinger, Biden, Nicholas Braithwaite, Akshara Bassi, It's, Steve Jobs, David Paul Morris, Apple, Paul Otellini, Walter Isaacson's, Otellini, Isaacson, Jobs, Apple didn't, Apple —, TSMC, Mikako Kitagawa, Joe Biden, Brendan Smialowski, Braithwaite, Gordon Moore, Moore's, Brian Krzanich, 7nm —, TSMC didn't, Jensen Huang, Josh Edelson, OpenAI, Gaudi, Intel's, it's, Bassi, CNBC's Jon Fortt Organizations: Intel, Taiwan Semiconductor Manufacturing Company, Nvidia, Micro Computer, Qualcomm, Broadcom, Texas Instruments, AMD, Apple, Celesta, Meta, Microsoft, Getty, Samsung, Gartner, Asus, AFP, Semiconductor, Engineers, SAP Center, Afp, Companies, Blackwell, Habana Labs, Gaudi, FactSet, U.S Locations: New York, American, U.S, Chandler , Arizona, California, San Jose , California, Taiwan, Columbus , Ohio
☆ Intel shares fall after providing weak forecast for the current quarter
  + stars: | 2024-04-25 | by ( Kif Leswing | ) www.cnbc.com   time to read: +2 min
Intel reported first-quarter earnings on Thursday that beat Wall Street expectations for earnings per share, but came up light in sales. Intel gave a weak forecast for the current quarter. That forecast compares to analysts' expected earnings per share of 25 cents, on $13.57 billion in sales. In the first quarter, Intel reported a net loss of $400 million, or 9 cents per share, versus a net loss of $2.8 billion, or 66 cents per share, last year. Intel said last month that it had reported a $7 billion operating loss in its foundry in 2023.
Persons: Pat Gelsinger Organizations: Intel, Summit, Revenue, Intel Foundry, Intel's Foundry, Intel's, Data Center, Nvidia, Gaudi Locations: Washington ,
☆ Intel CEO Pat Gelsinger: We expect the foundry business to break even in 2027
  + stars: | 2024-04-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIntel CEO Pat Gelsinger: We expect the foundry business to break even in 2027CNBC's Jon Fortt sits down with Intel CEO Pat Gelsinger at the Council on Foreign Relations to discuss Intel's foundry business, the impact of geopolitical tensions and more.
Persons: Pat Gelsinger, CNBC's Jon Fortt Organizations: Intel, Council, Foreign Relations
☆ Opinion | Can Intel Serve Two Masters?
  + stars: | 2024-03-29 | by ( Peter Coy | ) www.nytimes.com   time to read: +2 min
This week I interviewed Pat Gelsinger, the chief executive of Intel, which is one of the most important companies in the United States. To Biden and Commerce Secretary Gina Raimondo, the special thing about Intel is that it doesn’t just design chips in the United States, as, for example, the current stock market darling Nvidia does. It’s planning to spend $100 billion over five years on manufacturing and research and development projects in Arizona, New Mexico, Ohio and Oregon. While all three of those rivals have some U.S. production, Intel is the only one that has U.S. headquarters and its most advanced production and process technology R & D in the United States. Raimondo, at the announcement in Arizona, called Intel “America’s champion semiconductor company.”
Persons: Pat Gelsinger, Biden, Gina Raimondo, “, Raimondo, ” Organizations: Intel, Biden, Nvidia, Commerce Department, T.S.M.C, Samsung Locations: United States, Arizona , New Mexico , Ohio, Oregon, Taiwan, South Korea, Abu Dhabi, Arizona
☆ In swing state Arizona, an $8.5 billion CHIPS grant spells ‘jobs’ more than geopolitics
  + stars: | 2024-03-21 | by ( Christine Romans | Emily Pandise | ) www.cnbc.com   time to read: +3 min
US President Joe Biden gives a speech at Intel Ocotillo Campus on March 20, 2024 in Chandler, Arizona. Biden announced $8.5 billion in federal funding from the CHIPS Act for Intel Corp. to manufacture semiconductors in Arizona. "The CHIPS and Science Act is a huge jobs creator," National Economic Council Director Lael Brainard told NBC News, adding that the impact would go beyond Intel's own workforce. "The CHIPS and Science Act is a huge jobs creator," National Economic Council Director Lael Brainard told NBC News, adding that the impact would go beyond Intel's own workforce. "That also leads to all kinds of nearby restaurants' having business, nearby service small businesses' starting up and hiring workers of their own."
Persons: Joe Biden, Biden, CHANDLER, Ariz, Alfred Garza, Garza, It's, Chandler, Lael Brainard, Pat Gelsinger Organizations: Intel Ocotillo, Intel Corp, China, Intel, Chandler, Economic, NBC News Locations: Chandler , Arizona, Arizona, —, Phoenix, Washington, Chandler, Ohio, New Mexico, Oregon, America, Asia, U.S
☆ When our modern-day DaVinci speaks, I listen. Here's what I plan to do when Nvidia CEO Jensen Huang steps up to the mic this week
  + stars: | 2024-03-17 | by ( Jim Cramer | ) www.cnbc.com   time to read: +15 min
I think Jensen deserves one day a year when he can trace out a vision without a per share attached to it. Sure, plenty of people in line Saturday would, correctly I think, say to "own it, don't trade it." Sure, I was sweating "own it, don't trade it." And, can you imagine if you owned but didn't trade Intel from 1990 to 2000? (Don't tell current Intel CEO Pat Gelsinger, who thinks it is still alive.)
Persons: Lisa, Jensen Huang, Jensen, Lisa Su, Andy Grove, Elon Musk, he's, what's, We've, heaven's sakes, Sam Altman, Jensen's, —, Gordon Moore, Robert Noyce, Intel's, Noyce, blowhard, Pat Gelsinger, Enrique Lores, it's, He's, Frank Slootman, Jensen demurred, Frank, AMD's Su, It's, Colette Kress, Jim Cramer's, Jim Cramer, Jim Organizations: Palm, Wine, Club, Nvidia, New Yorker, Devices, Tesla, heaven's, OpenAI, Intel, IBM, HP, AMD, CNBC Locations: Florida, San Francisco, New
☆ It's not just Nvidia: The AI boom could create semiconductor jobs across the US and reduce reliance on risky Taiwan
  + stars: | 2024-02-29 | by ( Jacob Zinkula | ) www.businessinsider.com   time to read: +8 min
The demand for Nvidia's AI chips could bolster job growth across the semiconductor industry. It could also help bring more semiconductor chip manufacturing stateside and reduce the US's reliance on Taiwan — which remains vulnerable to Chinese invasion that would wreak havoc on the global economy. AdvertisementEven without the AI boom, the semiconductor industry was already poised for big job gains in the near future. Of the 115,000 US new semiconductor jobs the Semiconductor Industry Association is projecting by 2030, it said roughly 67,000 of these positions risk going unfilled given current college degree completion rates. In an effort to prevent a worker shortage, community colleges and universities across the country have partnered with semiconductor companies.
Persons: —, Pat Gelsinger, It's, who've, TSMC, Syed Alam, Ed Kaste, GlobalFoundries, Mark Muro, Muro, Jensen Huang, hasn't, Dylan Patel, SemiAnalysis, Patel, Accenture's Alam, Alam Organizations: Nvidia, TSMC, Service, Deloitte, Semiconductor Industry Association, Accenture, Meta, Intel, AMD, Brookings Institution, Samsung, Google, IBM, Lam Research, Materials, KLA Corporation Locations: Taiwan, Arizona
☆ Premarket stocks: Is Nvidia too big to fail?
  + stars: | 2024-02-21 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
Investors expect Nvidia to report earnings of $4.59 a share and $20.378 billion in revenue, up from just $6.05 billion a year before. Too big to fail: For the time being, Nvidia is the “most sophisticated and deployed” chipmaker in the world, and its output is one of national importance, said Newman. Capital One wants to be the biggest credit card company in America. If approved by regulators and shareholders, Capital One’s (COF) acquisition will create the biggest US credit card company by loan volume. Compared to other major credit card issuers, Capital One has historically catered to customers with credit scores in the 600s range, which is considered subprime.
Persons: “, ”, Daniel Newman, Newman, Jensen Huang, ” What’s, Sam Altman, Pat Gelsinger, Elisabeth Buchwald, Biden, Richard Fairbank, Fairbank, Samantha Delouya, Dow, Dow hasn’t Organizations: CNN Business, Bell, New York CNN, Nvidia, Wall, Microsoft, Apple, Investors, Intel, AMD, Discover Financial Services, Capital, Discover, Mastercard, Consumer Financial, Bureau, Walgreens, Dow Jones, Alliance, Dow Jones Industrial, Dow Jones Indices, Dow, Tesla Locations: New York, California, United States, China, Dubai, America
☆ Watch CNBC’s full interview with Intel CEO Pat Gelsinger
  + stars: | 2024-02-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Intel CEO Pat GelsingerIntel CEO Pat Gelsinger joins 'The Exchange' to discuss whether Intel will receive Chips Act funding, the company's plans for growth, and more.
Persons: Pat, Pat Gelsinger Organizations: Intel
☆ Intel CEO discusses Microsoft partnership for AI chips
  + stars: | 2024-02-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIntel CEO discusses Microsoft partnership for AI chipsIntel CEO Pat Gelsinger joins 'The Exchange' to discuss Intel's partnership with Microsoft for AI chips, the timeline for building a new factory in Ohio, and more.
Persons: Pat Gelsinger Organizations: Intel, Microsoft Locations: Ohio
☆ Satya Nadella's first decade as Microsoft CEO was defined by cloud. What's next?
  + stars: | 2024-02-04 | by ( Jordan Novet | ) www.cnbc.com   time to read: +11 min
Jason Redmond | AFP | Getty ImagesWhen Satya Nadella replaced Steve Ballmer as Microsoft CEO in February 2014, the software company was mired in mediocrity. Many tech industry analysts and investors would say that, thanks largely to Nadella, Microsoft is now set up to be a powerhouse for the foreseeable future. In a 2020 interview, Pat Gelsinger, then CEO of VMware, said offering his company's software on Microsoft's Azure cloud was akin to a "Middle East peace treaty." Nadella is perhaps best known in the tech industry for pushing Microsoft deeper into cloud computing. While some in the younger generations have Microsoft software at work, it's not necessarily what they grew up using and may not be what they prefer.
Persons: Satya Nadella, Bing, Jason Redmond, Steve Ballmer, Aravind Srinivas, Jeff Bezos, Nadella, Aaron Levie, Levie, Larry Ellison, David Paul Morris, Pat Gelsinger, Michael Nathan, Nathan, he'd, He's, Nat Friedman, Friedman, Kevork Djansezian, Ballmer, Kevin Dallas, I've, Dallas, it's, Gen Z, OpenAI's, Commission's Lina Khan, Sam Altman, Altman, OpenAI isn't, hasn't, Jefferies Organizations: Microsoft, AFP, Getty, Apple, Google, Amazon, Oracle Corp, Oracle, Bloomberg, VMware, Intel, Linux, Ballmer, Los Angeles Clippers, Microsoft Corp, Nokia, Activision Blizzard, Adobe, Activision, Federal, U.S . Justice Department, CNBC Locations: Redmond , Washington, San Francisco, Microsoft's, Silicon Valley, Los Angeles , California, U.S, Europe
☆ Intel on pace for worst day since 2020 on weak outlook
  + stars: | 2024-01-26 | by ( Kif Leswing | ) www.cnbc.com   time to read: +2 min
Intel CEO Pat Gelsinger speaks during an event called AI Everywhere in New York, Thursday, Dec. 14, 2023. Intel shares slumped 12% on Friday and headed for their steepest drop since July 2020, after the chipmaker issued a forecast for the current quarter that came in far short of analysts' estimates. Analysts were expecting earnings of 33 cents per share on $14.15 billion of revenue, according to LSEG, formerly Refinitiv. As of Friday afternoon, Intel shares were trading at $43.68. WATCH: Intel stock sinks as early 2024 outlook comes up short
Persons: Pat Gelsinger, Patrick Gelsinger, Seymour Ross Organizations: Intel, CNBC, PC, Deutsche Bank Locations: New York
☆ Intel stock sinks as early 2024 outlook comes up short
  + stars: | 2024-01-25 | by ( Kif Leswing | ) www.cnbc.com   time to read: +3 min
Pat Gelsinger, CEO Intel, speaking on CNBC's Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Intel posted net income of $2.7 billion, or 63 cents per share, compared to a net loss of $0.7 billion, or 16 cents per share, last year. Intel CFO David Zinsner said in a statement that Intel had cut $3 billion in costs last year. Intel's Network and Edge department, which sells parts for carriers and networking, reported $1.5 billion in sales, down 24% from last year. Intel foundry services, its business making chips for other companies, remains nascent, with $291 million in revenue, a 63% annual increase.
Persons: Pat Gelsinger, Gelsinger, David Zinsner Organizations: Intel, Wall, Gartner, Nvidia, AMD, Taiwan Semiconductor Manufacturing Company, Intel's, Computing, Data Center, Edge Locations: Davos, Switzerland
☆ Generative AI dominates Davos discussions as companies focus on accuracy
  + stars: | 2024-01-17 | by ( Alex Sherman Mackenzie Sigalos | Alex Sherman | Mackenzie Sigalos | ) www.cnbc.com   time to read: +1 min
"You've now reached the end of today's AI utility," Gelsinger said. "This next phase of AI, I believe, will be about building formal correctness into the underlying models." "Certain problems are well solved today in AI, but there's lots of problems that aren't," Gelsinger said. "Basic prediction, detection, visual language, those are solved problems right now. But at the end of the day, I need the knowledge worker to say is it right."
Persons: Pat Gelsinger, You've, Gelsinger Organizations: Microsoft, Google, Intel, CNBC Locations: DAVOS, Switzerland
☆ Tech firms, Wall Street lead job cuts in Corporate America
  + stars: | 2023-12-04 | by ( ) www.reuters.com   time to read: +9 min
TECHNOLOGY, MEDIA AND TELECOM SECTORMeta Platforms (META.O):The Facebook-parent said it would cut 10,000 jobs, just four months after it let go 11,000 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The company laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. Workday (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse was planning to cut about 3,000 jobs in the second quarter ended June 30, Reuters reported in May.
Persons: Brendan McDermid, Goldman Sachs, Axios, Pat Gelsinger, Elon Musk, Morgan Stanley, Lazard, Coinbase, cryptocurrencies, Phillips, Johnson, Joseph Wolk, Deborah Sophia, Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, Sourasis Bose, Priyamvada, Tiyashi Datta, Manya Saini, Jaspreet Singh, Maju Samuel, Sriraj Kalluvila, Pooja Desai Organizations: REUTERS, TELECOM, Meta, Facebook, IBM Corp, Spotify Technology SA, Spotify, Microsoft Corp, Intel Corp, Reuters, New York Times, Elon, Cisco Systems, HP, Rivian, Match, Dell Technologies, Technologies, U.S . Central Intelligence Agency, Goldman Sachs, Wall, Citigroup, Bloomberg News, BlackRock, Bed, Dow, Johnson, 3M, Thomson Locations: New, Wall, U.S, York, New Jersey, Bengaluru
☆ These stocks have gone too far, too fast during this rally and analysts expect them to fall
  + stars: | 2023-11-28 | by ( Brian Evans | ) www.cnbc.com   time to read: +3 min
A strong November rally has allowed some stocks on Wall Street to get ahead of themselves. Share gains have outpaced the overall market gain of 11% in the past month. Analysts surveyed expect shares to fall about 3% to meet their consensus price target. Intel stock has climbed more than 24% overall in the past month. INTC 1M mountain Intel stock.
Persons: Elon Musk's Tesla, Musk, Pat Gelsinger Organizations: Dow Jones Industrial, Nasdaq, Federal, CNBC, Stock, Elon, Netflix, Analysts, Intel, Wall
☆ PC market recovery gathers pace as Intel, AMD tout potential of 'AI PC'
  + stars: | 2023-11-01 | by ( Arsheeya Bajwa Akash Sriram | Arsheeya Bajwa | Akash Sriram | ) www.reuters.com   time to read: +3 min
A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. Executives at both the companies talked up the stabilizing PC market on earnings calls this week and said they expected the integration of artificial intelligence to boost growth. "The arrival of the AI PC represents an inflection point in the PC industry," said Intel CEO Pat Gelsinger. AMD boss Lisa Su said she "expected some growth going into 2024 as we think about sort of the AI PC cycle and some of the (Microsoft) Windows refresh cycles". Still, some investors see the lack of AI apps as a potential hurdle for their adoption.
Persons: Dado Ruvic, Pat Gelsinger, Lisa Su, Justin Sumner, Canalys, Dave Egan, Arsheeya Bajwa, Akash Sriram, Chavi Mehta, Krishna Chandra Organizations: REUTERS, Intel, Devices, AMD, Microsoft, Voya Investment Management, Graphics, Columbia, Thomson Locations: Bengaluru
☆ Intel, Salesforce and Cisco are giving cash payments to workers in Israel amid the war with Hamas, report says
  + stars: | 2023-11-01 | by ( Jyoti Mann | ) www.businessinsider.com   time to read: +2 min
Tech giants including Intel, Salesforce and Cisco are giving cash payments to employees in Israel. AdvertisementAdvertisementSeveral big tech firms are giving cash payments to employees in Israel to help support them amid the conflict with Hamas. Intel plans to give $5,000 to each of its 12,000 workers in Israel in November, business news outlet Globes reported . Gelsinger also told workers in the memo that their efforts to continue working and support colleagues who haven't been able to "has not gone unnoticed." Cisco is also providing a grant of between 9,500 and 19,000 ($2,355 to $4,710) to 800 workers in Israel, tech news site Ctech reported.
Persons: Pat Gelsinger, they'd, —, Gelsinger, haven't, Jenseng Huang, Cisco didn't Organizations: Tech, Intel, Cisco, Globes, Nvidia, Israel, Service, Hamas Locations: Israel, Nazareth, Petah Tikva, Tel Aviv, Gaza
☆ Stocks making the biggest moves premarket: Amazon, Intel, Enphase Energy and more
  + stars: | 2023-10-27 | by ( Samantha Subin | ) www.cnbc.com   time to read: +6 min
Amazon — Amazon's stock surged 7% after the e-commerce giant reported strong third-quarter results and showed a 13% jump in revenue for the period. Intel — The chip stock popped 7% after posting third-quarter results Thursday that topped Wall Street's expectations and offered strong guidance for the current period. Chipotle Mexican Grill — Shares of the restaurant chain rose more than 3% in premarket trading after the company's third-quarter earnings topped expectations. Stanley Black & Decker beat third-quarter earnings expectations , citing "strong momentum" with its cost reduction program. Colgate-Palmolive topped third-quarter earnings expectations on the top and bottom lines and hiked its organic sales growth outlook.
Persons: Pat Gelsinger, Ford, Chipotle, LSEG, LSEG . Stanley Black, Decker, Stanley Black, Sanofi, Newell Brands, Cantor Fitzgerald, —, Jesse Pound, Tanaya Macheel, Pia Singh, Sarah Min Organizations: Intel, Enphase Energy, LSEG, Ford, UAW, Exxon Mobil, Chevron — Chevron, Chevron, Colgate, Palmolive, Sanofi — U.S, Newell, Charter Communications, Disney . Charter Communications, Hasbro, Bank of America, Automotive, Merck —, BMO Capital Markets, Merck
☆ Stocks making the biggest moves midday: Intel, Chipotle, Juniper Networks and more
  + stars: | 2023-10-27 | by ( Pia Singh | ) www.cnbc.com   time to read: +3 min
Intel — Shares of the chipmaker popped 9.3% Friday, a day after Intel reported third-quarter results that topped analysts' expectations. Juniper Networks — The network management software provider climbed 6.1% after exceeding Wall Street's expectations on earnings and revenue for the third quarter. Juniper earned 60 cents per share on an adjusted basis, while analysts surveyed by FactSet expected 55 cents per share. Chipotle Mexican Grill — Chipotle shares led the market higher Friday, gaining 4.5% after the company's third-quarter earnings topped expectations. While profits fell short of Wall Street's expectations, revenue topped estimates.
Persons: Pat Gelsinger, Dexcom, Stanley Black, Decker, Juniper, FactSet, Chipotle, Ford, —, Alex Harring, Samantha Subin, Yun Li, Hakyung Kim Organizations: Intel —, Intel, Juniper Networks, Revenue, Bank of America, LSEG, Enphase Energy, Chevron, Ford, UAW
☆ Intel pops 10% after earnings beat shows progress toward $3 billion in cost savings
  + stars: | 2023-10-27 | by ( Jake Piazza | In | ) www.cnbc.com   time to read: +3 min
Intel stock jumped 10% on Friday morning after the company beat Wall Street expectations for profit and sales. It posted $14.16 billion in revenue for the quarter, ahead of analyst expectations of $13.53 billion, but down 8% from the year-ago quarter. Intel is also on track to hit its goal of $3 billion in savings for the year, according to CEO Pat Gelsinger. JPMorgan analysts praised the savings in an investor note. "The team is also executing well against its cost saving initiatives and indicated that they are on track with their plans for $3B in savings to COGS/Opex in 2023," JPMorgan analysts wrote.
Persons: Intel's premarket, Goldman Sachs, Morgan Stanley, Pat Gelsinger, Intel's, —, Leswing, Michael Bloom Organizations: Intel, Nvidia, Arm, JPMorgan, CNBC
☆ Intel’s reverse bullwhip is strong
  + stars: | 2023-10-27 | by ( ) www.reuters.com   time to read: +2 min
The $150 billion chip giant has weathered a post-Covid maelstrom as an initial work-from-home-driven boost to PC sales slammed into reverse, denting sales and the company’s chunky gross profit margin. Growth isn’t back, but results released on Thursday show the decline is slowing and a new division has promise. At least one pandemic bullwhip might be close to having run its course. Reuters GraphicsBetter yet, Intel’s foundry business - Gelsinger’s push to start making chips designed by others - is narrowing its losses while growing revenue and scaling up. Though many customers are signing up on the condition that Intel’s manufacturing tech reaches certain milestones, that unit is its future.
Persons: Pat Gelsinger, Jonathan Guilford, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, Intel, Taiwan Semiconductor Manufacturing, X, Thomson
☆ Chipmaker Intel soars on signs of PC market recovery
  + stars: | 2023-10-27 | by ( Samrhitha A | ) www.reuters.com   time to read: +3 min
A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. The chipmaker was set to increase its market value by more than $10 billion, if gains hold. Bernstein analyst Stacy Rasgon said Intel's "AI story still seems marginal" and the "datacenter performance continues to suffer from significant headwinds". The company is under heavy pressure in the data center chip market from Nvidia, whose graphic processing units are used for training artificial intelligence models. Sales at Intel's data center business, which also houses its AI chip division, dropped 10%.
Persons: Dado Ruvic, Bernstein, Pat Gelsinger, Taiwan's TSMC, Gelsinger, Logan Purk, Edward Jones, Stacy Rasgon, Gaudi, Samrhitha, Shounak Dasgupta Organizations: REUTERS, Intel, AMD, Nvidia, Reuters, Thomson Locations: chipmaking, Bengaluru
☆ Intel stock rises on earnings beat and strong revenue guidance
  + stars: | 2023-10-26 | by ( Kif Leswing | ) www.cnbc.com   time to read: +1 min
Intel shares rose about 7% in after-hours trading after the company reported third-quarter earnings on Thursday that beat expectations for profit and sales, even as its revenue declined from the year-earlier period. Intel posted net income of $297 million, or 7 cents per share, versus net income of $1.02 billion, or 25 cents per share in the same quarter last year. Revenue fell 8% from $15.33 billion a year ago, the seventh consecutive quarter of declining sales. Intel CEO Pat Gelsinger told analysts on a call the company would cut costs by about $3 billion this year. Chief Financial Officer David Zinsner said that Intel's earnings per share benefited from the company controlling expenses, with operating expenses declining 15% from a year ago.
Persons: Pat Gelsinger, David Zinsner Organizations: Intel, Revenue
☆ Here's why Jim Cramer still prefers to own shares of AI powerhouse Nvidia over Intel
  + stars: | 2023-10-04 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com   time to read: +1 min
Nvidia 's (NVDA) investment prospects still shine brighter than Intel 's (INTC), CNBC's Jim Cramer said Wednesday, even as the latter embarks on another deal perceived as being shareholder-friendly. Intel used a similar strategy to take public its self-driving car technology unit, Mobileye (MBLY), in October 2022. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Cramer said he prefers to continue owning Nvidia over Intel. "I like Nvidia, and Nvidia is no financial engineering," said Cramer, whose Charitable Trust, the portfolio used by the CNBC Investing Club, has long owned Nvidia stock.
Persons: CNBC's Jim Cramer, what's, Cramer, Pat Gelsinger, Jim Cramer's Organizations: Nvidia, Intel, Charitable Trust, CNBC
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