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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's bold claims for new chip, plus bad calls on Wells Fargo, Freeport-McMoRan
▼ + stars: | 2024-04-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Given the company's track record, it is not surprising to us that its stock isn't working after these much-ballyhooed claims. Upgrades/downgrades: Bank earnings season kicks off this Friday with Wells Fargo , JPMorgan , and Citigroup scheduled to report. Meanwhile, Cramer is critical of an upgrade of Freeport-McMoRan after the stock has gained 35% since the beginning of March. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Stocks, Gaudi, Wells, Wells Fargo, Cramer, Jim Cramer's, Jim, Patrick Gelsinger, Brendan Smialowski Organizations: CNBC, Nvidia, Intel, JPMorgan, Citigroup, KBW, Citi, GE, GE Healthcare, Core CPI, Jim Cramer's Charitable, AFP, Getty Locations: Wells Fargo, Freeport, McMoRan, Chandler , 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

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