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☆ Why stock investors are suddenly so scared
▼ + stars: | 2023-08-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

That means that if China’s economy slows down, global economic growth slows down. “When global economic growth slows down, that tends to be negative US equities. But a string of strong economic data has challenged those notions. Russia’s invasion of Ukraine continues to stoke fears of rising commodity prices, global economic instability and uncertainty around security. It’s been chock full of economic data and big corporate reports.

Persons: That’s, Lehman, ”, Alex Etra, Bond, Jamie Dimon, JPMorgan Chase, hasn’t, Banks, Michael Burry, Fitch, It’s Organizations: New, New York CNN, Nasdaq, Dow, CNN, country’s National Bureau of Statistics, Apple, Intel, Starbucks, Nike, Federal, Federal Reserve, Atlanta Fed, JPMorgan, CNBC, First Republic Bank, Huntington Bank, PacWest, Western Alliance, Bank Locations: New York, China, Ukraine, Beijing, stoke, Huntington

Samsung's 11-year-old investment in ASML has been hugely lucrative. Over the past decade, ASML shares have delivered a whopping 25% annualised return to its shareholders. It's part of Samsung's ambitious $230 billion commitment to bolster South Korea's semiconductor and high-tech sectors over the next 20 years. Moreover, Samsung's cash is probably held in overseas affiliates and subsidiaries across different jurisdictions; its annual report lists hundreds of entities abroad. That should help ease Samsung’s vexing cash bind, but the company may still need to come up with some creative funding choices.

Persons: Taiwan's TSMC, ASML, Antony Currie, Thomas Shum Organizations: Reuters, Samsung Electronics, Korean Economic, Intel, Samsung, HK, SFA Engineering, Apple, Korea Economic, Thomson Locations: HONG KONG, KS, ASML, United States, Korea

☆ Cisco CEO says AI is already becoming a huge new market after it 'missed' the initial cloud computing boom
▼ + stars: | 2023-08-18 | by ( Julie Bort | ) www.businessinsider.com time to read: +4 min

Cisco CEO surprised analysts by mentioning it had already sold half a billion dollars of AI gear. Cisco is trying to woo cloud companies away from offerings by Nvidia. "To date, we have taken orders for over half a billion dollars for AI Ethernet fabrics. But Robbins says this new AI cloud market will be triple or more the size of the original and, this time, he plans to make sure Cisco gets its share. And, you know, unfortunately for us, as it's been well documented, we missed the original cloud build out," Robbins said.

Persons: it's, Chuck Robbins, That's, Infiniband, Robbins, Morgan Stanley, Meta Marshall, Julie Bort Organizations: Cisco, Nvidia, Morning, Mellanox Technologies, AMD, Arista, Broadcom, HPE, Intel, Meta, Microsoft, Google, Facebook, Arista Networks, Twitter

REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsAug 17 (Reuters) - Semiconductor equipment maker Applied Materials (AMAT.O) on Thursday forecast its fourth-quarter profit would be substantially higher than analyst estimates, as chip demand picks up and governments spend billions on subsidies. Applied reported third-quarter revenue of $6.43 billion, beating analysts' average estimate of $6.16 billion, according to Refinitiv data. Applied finance chief Brice Hill said that despite overall lower chip equipment spending this year, the company's services business would continue to grow. For its company's semiconductor systems unit, which supplies gear to chip makers, third-quarter revenue slipped roughly 1% to $4.68 billion. Samsung Electronics (005930.KS), Taiwan Semiconductor Manufacturing Co (2330.TW), and Intel Corp (INTC.O) use the company's advanced chip production tools.

Persons: Dado Ruvic, Gary Dickerson, Brice Hill, Jaspreet Singh, Max A, Shinjini Ganguli, David Gregorio, Jamie Freed Organizations: REUTERS, Semiconductor, Applied, Lam Research, KLA, Samsung Electronics, Taiwan Semiconductor Manufacturing, Intel Corp, Thomson Locations: Santa Clara , California, China, Bengaluru, Max, San Francisco

☆ Intel Shows Why Global Chip M&A Is Off the Table
▼ + stars: | 2023-08-17 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/intel-shows-why-global-chip-m-a-is-off-the-table-175ccc5f

Persons: Dow Jones

☆ Intel calls off $5.4 billion Tower Semiconductor deal after failing to get regulatory approval
▼ + stars: | 2023-08-17 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Intel has pulled out of a major acquisition of an Israeli chipmaker after failing to obtain the required regulatory approval. The US tech giant said in a Wednesday statement it would scrap its planned $5.4 billion purchase of Tower Semiconductor (TSEM), saying it had not received the necessary sign-off from regulators in time. While Intel (INTC) did not specifically mention which jurisdiction it was waiting on, it had previously outlined efforts to clear the deal with authorities in China. Both Intel and Tower said in their respective statements that the deal had been canceled based on mutual agreement. To walk away, Intel will now pay Tower a termination fee of $353 million, the California-based company said in the statement.

Persons: Pat Gelsinger, ” Gelsinger, Joe Biden, won’t, Gelsinger, Russell Ellwanger, ” Organizations: Hong Kong CNN, Intel, Tower Semiconductor, Financial Times, Administration of, CNN, Companies, Tower’s Nasdaq Locations: Hong Kong, China, United States, Europe, Asia, California, New York

☆ Ukraine says it downed 2 Ka-52 attack helicopters, which Russia calls the world's best, in a single morning
▼ + stars: | 2023-08-17 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Ukraine said it shot down two Russian Ka-52 attack helicopters on Thursday morning. But Ukraine has been fighting back: Independent weapons monitoring group Oryx said 40 Ka-52 helicopters have been confirmed as damaged or destroyed through visual evidence. The group added that in total 88 Russian helicopters have been confirmed as destroyed in Ukraine, with 12 more damaged and one captured. Insider reported in November 2022 that Ka-52s have been used more than any other attack helicopter by Russia in its full-scale invasion, which began in February 2022. Nico Lange, a Ukraine expert at the Munich Security Conference, told The Economist that Ka-52 attack helicopters are being picked off "piece by piece" by Ukrainian forces, in a sign that Ukraine is now making progress in its counteroffensive efforts.

Persons: Mykola Oleshchuk, Insider's Rebecca Rommen, Nico Lange Organizations: UK intel, Service, 47th Mechanized Brigade, Facebook, NATO, Kremlin, UK Ministry of Defence, Munich Security Conference Locations: Ukraine, UK, Wall, Silicon, Russian, Robotyne, Zaporizhzhia, Bakhmut, Donetsk, Russia, Kyiv

☆ China's tanking economy is costing major US companies and could throw cold water on America's economic boom
▼ + stars: | 2023-08-17 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

China's slowing economy is chipping away at some American companies' revenues. China's July economic report didn't mention youth-unemployment statistics after it soared to 21.3% in the second quarter, citing economic and social changes. While Chinese manufacturing and construction are struggling to recover, some American companies with strong ties to China are also feeling the effects. Dow's rival DuPont also reported a drop in China sales from existing operations, a 14% year-over-year fall. To be sure, some American companies have performed well in China over the past few months.

Persons: Gamble, Stephen Williamson, Danaher, Rainer Blair, Howard Ungerleider, Edward Breen, Marriott Organizations: DuPont, Danaher, Procter, Service, Citigroup, Intel, Toyota, Nissan, Apple, Starbucks, Street Journal, Monetary Fund Locations: China, Wall, Silicon, American, Ohio, Greater China, Beijing

☆ Elon Musk's SpaceX turns profit in first quarter as revenue soars - WSJ
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Joe Skipper/File Photo Acquire Licensing RightsAug 17 (Reuters) - Elon Musk-owned SpaceX's surging revenue helped it turn a small profit in the first quarter of 2023 after two annual losses, the Wall Street Journal reported on Thursday, citing documents. The company generated $55 million in profit on $1.5 billion in revenue during the January-to-March period, according to the report. In 2022, revenue doubled to $4.6 billion, helping the company reduce its loss last year to $559 million from $968 million, the WSJ reported. The company reported about $5.2 billion in total expenses for 2022, up from $3.3 billion the year earlier, according to the report. SpaceX's first-quarter results are preliminary, while annual results are final, the WSJ reported, citing the documents.

Persons: Joe Skipper, Elon Musk, Walt Disney, SpaceX's, Jaspreet Singh, Anil D'Silva Organizations: SpaceX, Cape Canaveral Space Force, REUTERS, Wall Street, Intel, WSJ, Thomson Locations: Cape Canaveral , Florida, U.S, Bengaluru

☆ Premarket stocks: How China's economic turmoil could hurt your portfolio
▼ + stars: | 2023-08-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Why it matters: “For most of the last two decades, China’s economic growth has been a major driver of the global economy,” said Alex Etra, a strategist at data analytics firm Exante. That means that if China’s economy slows down, global economic growth slows down. ExxonMobil (XOM) may not be doing too much business with China, said Etra, but if Chinese growth slows, that means oil prices go down. Earlier this year, Bank of America compiled a list of the S&P 500 companies with the highest exposure to China. The grand total of all the private wealth in the world fell 2.4% to $454.4 trillion last year, according to the annual Credit Suisse and UBS global wealth report.

Persons: Joe Biden, BlackRock, ”, Alex Etra, Michael Burry’s, Allison Morrow, That’s, Jason Hart, Winn, ” Hart, “, Ramishah Maruf Organizations: CNN Business, Bell, New York CNN, country’s National Bureau of Statistics, ExxonMobil, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, Funds, PitchBook, Michael Burry’s Scion Asset Management, Moore Capital Management, D1 Capital, Tiger Global, Securities, Exchange, Credit Suisse, UBS, Millionaires, Aldi, Dixie, Winn, CNN Locations: New York, Beijing, China, Ukraine, United States, Aldi, Winn

☆ Intel Scraps Tower Acquisition After China Fails to Approve Deal
▼ + stars: | 2023-08-16 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/intel-scraps-tower-acquisition-after-china-fails-to-approve-deal-f59dd70f

Persons: Dow Jones

☆ China Torpedoes Intel’s Bid to Buy Israeli Chip Maker Tower Semiconductor
▼ + stars: | 2023-08-16 | by ( Dan Strumpf | Yang Jie | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/intel-scraps-tower-acquisition-after-china-fails-to-approve-deal-f59dd70f

Persons: Dow Jones

☆ China does Intel a small favor
▼ + stars: | 2023-08-16 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

Acquire Licensing RightsNEW YORK, Aug 16 (Reuters Breakingviews) - Intel (INTC.O) can thank China later. The chipmaker on Wednesday terminated its $5.4 billion acquisition of Tower Semiconductor (TSEM.TA), after failing to secure approval from the country’s State Administration for Market Regulation. Beijing’s trustbusters are providing a helpful escape route from the intensifying technology trade war. Reuters GraphicsAdding Tower would have helped Intel boss Pat Gelsinger with his strategic pivot to making semiconductors designed by others. Tower uses old technology, however, while Intel’s new customers, including the U.S. Department of Defense and Qualcomm, want cutting-edge fabrication.

Persons: Pat Gelsinger, MaxLinear, China’s, Jeffrey Goldfarb, Sharon Lam Organizations: Dow Jones Industrial, Intel, Reuters, Tower Semiconductor, Administration, Market, NXP Semiconductors, U.S . Department of Defense, Qualcomm, Wall Street Journal, Motion Technology, Cisco Systems, Acacia Communications, Thomson Locations: San Diego , California, China, country’s, Washington, Beijing

☆ Intel terminates its acquisition of Israeli chipmaker Tower Semiconductor
▼ + stars: | 2023-08-16 | 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 terminates its acquisition of Israeli chipmaker Tower SemiconductorCNBC's Kristina Partsinevelos joins 'Power Lunch' to discuss Intel scrapping $5.4 billion bid for chipmaker after China withholds approval.

Persons: Kristina Partsinevelos Organizations: Intel, chipmaker Locations: China

☆ Intel terminates plan to buy Tower Semiconductor
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

Tower Semiconductor is seen on smartphone in this illustration taken, February 15, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsAug 16 (Reuters) - Intel (INTC.O) said on Wednesday it has terminated its plans to acquire Israeli contract chipmaker Tower Semiconductor (TSEM.TA) as it was unable to get timely regulatory approvals for the $5.4 billion deal. Intel, which signed a deal to buy Tower last year, will pay a termination fee of $353 million to the latter, according to a statement. Intel, however, did not mention the details about the regulatory approvals. Reporting by Anirudh Saligrama in Bengaluru; Editing by Savio D'Souza and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Anirudh, Savio D'Souza, Nivedita Organizations: Semiconductor, REUTERS, Intel, chipmaker, Reuters, Thomson Locations: Bengaluru

☆ Here are 17 stocks Jim Cramer is watching, including Home Depot, Exxon and Intel
▼ + stars: | 2023-08-16 | by ( Jim Cramer | ) www.cnbc.com time to read: +2 min

Datadog (DDOG) price target raised to $133 from $127 at Bernstein, consensus could go higher. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Frank Slootman, Bernstein, JD.com, Cowen, BTIG, Marcus Hook, Jim Cramer's, Jim Cramer, Jim, Matt Stone Organizations: Mizuho . Company, Intel, Tower Semiconductor, Exxon, Mizuho, Sea, Chevron, National Futures Association, Energy, Crestwood, Jim Cramer's Charitable, CNBC Locations: China, Rockland , Massachusetts

☆ Intel scraps $5.4 billion acquisition of Tower Semiconductor after regulators fail to approve deal
▼ + stars: | 2023-08-16 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Intel on Wednesday terminated its acquisition of Israeli chipmaker Tower Semiconductor, saying it failed to secure the required regulatory approval. Intel will pay a termination fee of $353 million to Tower. Intel announced intentions to buy Tower — a contract chipmaker that manufactures semiconductors for other companies — in February 2022 for $5.4 billion. Tower Semiconductor's Israel-listed shares were down 8% around 4:18 a.m. Reuters, citing people familiar with the matter, reported Tuesday that Intel did not secure approval for the deal from the Chinese authorities before a crucial deadline passed.

Organizations: Intel, Semiconductor, Reuters Locations: Semiconductor's Israel

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Wall Street closed sharply lower on Tuesday after solid retail sales growth in July added to uncertainty around the interest rate outlook, with concerns over a possible downgrade of several U.S. lenders by Fitch further denting risk sentiment. Investors are now focused on the Federal Reserve's July 25-26 meeting minutes, due at 1400 ET (1800 GMT), which may indicate how many policymakers feel the U.S. central bank is done raising interest rates. The central bank had raised rates by 25 basis points at the end of the meeting. Coinbase(COIN.O) gained 5.4% as the crypto exchange secured regulatory approval to allow U.S. retail customers to trade crypto futures.

Persons: Brendan McDermid, Piper Sandler, Fitch, Michael Hewson, Tesla, Amruta Khandekar, Vinay Dwivedi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nvidia, Dow, Nasdaq, Federal, Target, Traders, Committee, CMC Markets, Walmart, Dow e, Tower Semiconductor, Intel, Thomson Locations: New York City, U.S, China, Bengaluru

Tower Semiconductor is seen on smartphone in front of displayed Intel logo in this illustration taken, February 15, 2022. Last year, DuPont De Nemours Inc (DD.N) scrapped its $5.2 billion deal to buy electronics materials maker Rogers Corp (ROG.N) after delays in securing approval from Chinese regulators. But Gelsinger also said Intel was investing in its foundry business, which makes chips for other companies, irrespective of the Tower deal. Investors had given up hope on the Tower deal as a result. It has committed to trimming $3 billion in costs this year, with an aim of saving between $8 billion and $10 billion by the end of 2025.

Persons: Dado Ruvic, Pat Gelsinger, Gelsinger, Benjamin Netanyahu, Anirban Sen, Max Cherney, Jamie Freed Organizations: Semiconductor, REUTERS, Intel Corp, chipmaker, Intel, State Administration, Market, DuPont De Nemours Inc, Rogers Corp, Investors, Nasdaq, Taiwan Semiconductor Manufacturing, Thomson Locations: China, United States, Taiwan, Israel, New York, San Francisco

China has effectively scuttled a $5.4 billion deal by Intel, the Silicon Valley semiconductor giant, in the latest sign of the frayed business ties between China and the United States. Intel, which has long had operations in China, said Wednesday that it had “mutually agreed” to terminate a planned merger with Tower Semiconductor, an Israeli chip manufacturer. The announcement came after China’s antitrust regulators failed to rule on the transaction before a deadline set by the companies. The planned merger, announced in February 2022, passed antitrust reviews in the United States and Europe. But it ran into a lengthy delay in China, where regulators review mergers of companies that earn a certain amount of revenue in the country.

Organizations: Intel, Tower Semiconductor Locations: China, United States, Europe

☆ Stocks making the biggest moves midday: Target, Cava, TJX Companies, Intel and more
▼ + stars: | 2023-08-16 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Target — Target shares added 2.9% even after the retailer cut its full-year earnings forecast and second-quarter sales fell short of expectations. Wall Street analysts surveyed by Refinitiv had expected earnings of $1.39 per share on $25.16 billion in revenue. TJX reported adjusted earnings of 85 cents per share on $12.76 billion in revenue, while analysts surveyed by Refinitiv expected 77 cents earned and $12.45 billion in revenue. The manufacturer of lasers and optics forecast earnings of 5 cents to 20 cents per share and revenue of $1 billion to $1.1 billion. Analysts polled by FactSet called for 47 cents per share in earnings and revenue of $1.16 billion.

Persons: Refinitiv, Coinbase, TJX, FactSet, JD.com, Dr Pepper, Agilent, Jack Henry, Mercury, Cava — Cava, Jack, Wells, Morgan Stanley, Imperial, Shawn Fain, —, Sarah Min, Samantha Subin, Michelle Fox, Jesse Pound Organizations: —, Wall Street, National Futures Association, Commodity Futures Trading Commission, TJX, Nasdaq, UBS, Block, Wall, Associates, Mercury Systems, GE, GE HealthCare, News, Getty, Imperial Capital, Intel, Tower Semiconductor, Semiconductor, General Motors —, United Auto Workers, Big, General Motors, Ford Motor Locations: JD.com —, Cava

☆ Russian officers refused to collect the bodies of dead troops so the military wouldn't have to pay their families, convict soldier says
▼ + stars: | 2023-08-15 | by ( Chris Panella | ) www.businessinsider.com time to read: +2 min

An ex-convict Russian soldier said officers in Putin's army refused to collect the dead bodies of fallen troops. The soldier told The New York Times that it let the Russian military dodge paying their families compensation. In an interview, the soldier who served in one of the Russian Ministry of Defense's convict units — who was identified as "Aleksandr" — told the Times he was ordered not to collect the bodies of his fellow troops. He told the Times that officers could register the men as "missing in action," meaning their families couldn't collect compensation for them being killed in battle. And last week, researchers with the BBC said they've identified more than 30,000 dead Russian soldiers by name, including 1,300 in the last two weeks alone.

Persons: Aleksandr, —, they've Organizations: New York Times, Service, The New York Times, Russian Ministry, Times, Western intel, BBC, Wagner Group, Russian Ministry of Defense Locations: Russian, Russia, Ukraine, Wall, Silicon, Western

☆ Hedge funds beefed up A.I. bets in the second quarter
▼ + stars: | 2023-08-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

2023 has been the year for artificial intelligence stocks, and hedge funds in the second quarter beefed up their bets on the growth sector despite its sharp run up this year. Doubling down on Big Tech Despite the uptick in tech shares by the end of the first half, many hedge funds amped up their bets on Alphabet during the second quarter. David Tepper's Appaloosa bet big on AI winners , growing positions in Alphabet, Amazon , Meta Platforms and Microsoft during the period. Betting on chip stocks Nvidia shares have popped 200% as the company triumphs as AI chipmaker to beat this year. Beyond these pure-play AI bets, Coleman added to semiconductor Lam Research .

Persons: Bill Ackman's, Dan Loeb's, David Tepper's, Baupost's Seth Klarman, Philippe Laffont's Coatue, Tiger Global's Chase Coleman, Mark Zuckerberg's, Dan Sundheim's, Ole Andreas Halvorsen, Loeb, Coleman, Sundheim, Baupost, Keith Meister's, Laffont, Yun Li, Sarah Min, Brian Evans Organizations: Big Tech, Microsoft, Tiger Cub, Management, Apple, Amazon, Facebook, Meta, Nvidia, Devices, Viking, Taiwan Semiconductor, Micron Technology, AMD, Intel, Qualcomm, Broadcom, Marvell Technology, Materials, Global, Lam Research, Netflix, Viking Global, NXP Semiconductors, Semiconductor Locations: Apple, Amazon

☆ David Tepper’s Appaloosa hedge fund piles into host of A.I.-related stocks
▼ + stars: | 2023-08-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Appaloosa Management's David Tepper doubled down on several stocks tied to the artificial intelligence boom in the last quarter, a new regulatory filing revealed. The hedge fund manager hiked his stake in Nvidia drastically, making it his biggest holding at the end of June, worth $432 million. Appaloosa's top holdings also included big-tech names Meta , Microsoft , Amazon and Alphabet , which have all recently highlighted their AI capabilities. Meta recently unveiled its own AI computer chips . Tepper remains one of the most successful and richest hedge fund managers in the world, known for his skillful maneuvers through market crises.

Persons: David Tepper, Meta, Tepper Organizations: Nvidia, Microsoft, Google, OpenAI, AMD, Intel, Qualcomm, Marvell, Broadcom, Taiwan Semiconductor

☆ Intel adds Synopsys IP to advanced contract manufacturing
▼ + stars: | 2023-08-14 | by ( Max A. Cherney | ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File PhotoAug 14 (Reuters) - Chip design tools maker Synopsys (SNPS.O) has signed a deal to bring its technical building blocks to the advanced contract manufacturing Intel (INTC.O) offers, the companies said on Monday. The two companies said Synopsys would offer a portfolio of designs that will work with Intel's advanced manufacturing capabilities Intel 3, and Intel 18A. Intel and Synopsys said that there was a framework in place for making the intellectual property available on future manufacturing processes. The partnership between Intel and Synopsys important step for Intel Foundry Services (IFS), its contract manufacturing business, to become a viable alternative to Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) or Samsung Electronics Co Ltd (005930.KS). Intel launched IFS in 2021, and it reported revenue of $232 million in the second quarter of this year.

Persons: Dado Ruvic, Synopsys, Steve Leibson, Max A, Marguerita Choy Organizations: REUTERS, Intel, Intel Foundry Services, Taiwan Semiconductor Manufacturing Co, Samsung Electronics Co, Tirias Research, Thomson Locations: San Francisco

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