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Intel disappointed investors. For corporate customers, it’s still good enough

Livemint

Livemint · 1y ago

Intel disappointed investors. For corporate customers, it’s still good enough

Intel's recent poor quarterly earnings have raised concerns about the company's long-term future. The chip maker reported a loss of $1.6 billion for the second quarter and plans to lay off about 15,000 employees as part of cost-saving measures. Intel's struggles to keep up with other tech giants like Cisco, Microsoft, and Dell, and its lack of presence in the AI chip market, have left corporate technology chiefs questioning the company's viability. However, for now, Intel still dominates the PC and server market, and its brand is still recognizable and trusted.

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Tragic setback for investors: Bikhchandani on BluSmart crisis

Inshorts · 4m ago

Tragic setback for investors: Bikhchandani on BluSmart crisis

Info Edge Founder Sanjeev Bikhchandani said ride-hailing startup BluSmart suspending its operations is "a tragic setback for the investors". "As a customer, I am disappointed because the cab services were really good," he added. Speaking about SEBI's probe into BluSmart partner Gensol Engineering, he said, "There will be some bad actors, but...95-98% of startups are honest."

What needs to go right for Intel, and what happens if it doesn't

Business Insider

Business Insider · 9m ago

What needs to go right for Intel, and what happens if it doesn't

Intel, the chip giant, is causing concerns among lawmakers and analysts as its stock plummets and it experiences setbacks. However, there are still potential ways for Intel to recover. First, its 18A process technology must succeed, which could enable it to regain customers and catch up to competitors like TSMC. Second, Intel's plan to spin out its manufacturing business, Intel Foundry, needs major companies to use its services. Third, government aid under the CHIPS Act and support from Washington could potentially help Intel become profitable again. Nevertheless, there are discussions of a possible breakup or merger if Intel fails to turn things around.

Micron Tech beats revenue estimates on AI chip demand; shares fall after run-up

Economic Times

Economic Times · 1y ago

Micron Tech beats revenue estimates on AI chip demand; shares fall after run-up

Micron Technology reported better-than-expected third-quarter revenue due to strong demand for its memory chips. However, its fourth-quarter forecast disappointed investors, causing the company's stock to drop 7.2% after hours. While Micron's forecast was largely in line with expectations, it was not enough to meet the high hopes of investors, especially considering the company's strong performance in the AI market. Micron is a major provider of high-bandwidth memory chips used in advanced AI systems and is benefiting from the increasing demand for semiconductors. Its results are seen as an indicator of chip demand and market trends.

AI companies lose $190 billion in market cap after Alphabet and Microsoft report

Economic Times

Economic Times · 1y ago

AI companies lose $190 billion in market cap after Alphabet and Microsoft report

Investors were disappointed with quarterly results from tech giants Microsoft, Alphabet, and Advanced Micro Devices, resulting in a loss of $190 billion in stock market value for AI-related companies. The selloff highlights the high expectations of investors in the AI sector, which had previously caused a rally in stock prices. Alphabet's stock dropped 5.6% after missing revenue expectations, while Microsoft's Azure platform grew faster but still experienced a stock decline. Chipmaker Advanced Micro also saw a downturn after missing revenue estimates for its AI processors.

Corporate Governance issue wake-up call for startups; saddening to see any lapses: Bombay Shaving Company CEO

Economic Times

Economic Times · 2y ago

Corporate Governance issue wake-up call for startups; saddening to see any lapses: Bombay Shaving Company CEO

Corporate governance should be a collective responsibility involving all stakeholders in a startup, according to Shantanu Deshpande, the founder of Bombay Shaving Company. He highlighted that any lapses are concerning for the ecosystem and stressed the need to fix corporate governance issues. Deshpande noted that good companies will still attract funding, though valuations might be more cautious. He urged entrepreneurs to focus on company health and capital conservation during the funding winter, which could lead to positive habits.

Nvidia’s supply snags hurting deliveries but mask booming demand

Livemint

Livemint · 9m ago

Nvidia’s supply snags hurting deliveries but mask booming demand

Nvidia's revenue forecast disappointed Wall Street, leading to concerns about the AI boom's trajectory. However, Nvidia executives, analysts, and investors remain confident that demand for the company's superior chips for AI systems is still high. Nvidia's new flagship chip, Blackwell, faced production challenges due to a design flaw, impacting chip yields and production timelines. Despite these setbacks, Nvidia has shipped thousands of samples of the new chip and expects strong sales. However, supply constraints and production bottlenecks may lead to challenges in meeting demand.

Zerodha, Groww users miss out on gains from June 4 market plunge due to technical glitches

YourStory

YourStory · 1y ago

Zerodha, Groww users miss out on gains from June 4 market plunge due to technical glitches

Customers of Zerodha and Groww were disappointed as technical issues caused delays in their mutual fund investments during the market turmoil on June 4. Retail investors who had placed orders before the same-day settlement cutoff time claimed their orders were only fulfilled the next day when prices had already risen. Some users reported receiving order confirmations days after placing them. Both Zerodha and Groww acknowledged the issues, with Zerodha blaming a problem with its payment aggregator Razorpay. This incident highlights the recurring problem of technical glitches causing inconvenience and notional losses for investors using brokerage apps.

Intel to lay off 15,000 employees as chipmaker tries to revive its business

Economic Times

Economic Times · 1y ago

Intel to lay off 15,000 employees as chipmaker tries to revive its business

Intel is cutting 15% of its workforce, around 15,000 jobs, in an effort to compete with rivals Nvidia and AMD. The company plans to save $10 billion by 2025 and align its cost structure with its new operating model. Intel reported a loss in its second quarter, along with a small decline in revenue, leading to a plunge in its stock value. The job cuts will be accompanied by an enhanced retirement offering and a voluntary departures program. Analysts suggest that cost-cutting measures alone may not be enough for Intel to redefine its position in the chip market.

TSMC to invest up to $100 million in Arm Holdings' IPO

Economic Times

Economic Times · 1y ago

TSMC to invest up to $100 million in Arm Holdings' IPO

TSMC, the world's largest contract chipmaker, plans to invest up to $100 million in Arm Holdings Plc's IPO. Arm Holdings, owned by SoftBank Group, is aiming to raise up to $4.87 billion in its US IPO. TSMC joins other major clients, including Apple, Nvidia, Alphabet, AMD, Intel, and Samsung Electronics, as cornerstone investors in Arm's IPO. TSMC's Chairman Mark Liu emphasized the importance of Arm to their ecosystem and customers. Additionally, TSMC agreed to purchase a 10% equity interest in IMS Nanofabrication Global, LLC from Intel for up to $432.8 million.

Tesla leaves Uber plenty of road

Livemint

Livemint · 10m ago

Tesla leaves Uber plenty of road

- Tesla's recent "We, Robot" event left shareholders disappointed with a lack of details regarding the robotaxi vehicle and service. - Tesla's shares dropped nearly 9% following the event, while Uber's shares jumped nearly 11% as investors saw Tesla's announcement as a best-case outcome for Uber. - Tesla plans to have its robotaxi, called the Cybercab, in production within a couple of years and sell it for less than $30,000. - However, the success of Tesla's robotaxi depends on finding enough riders to fill the fleets and generate returns for individual buyers turned fleet operators. - Other robotaxi operators, like Waymo, have partnered with Uber to leverage its large customer base and existing infrastructure. - Tesla will also face challenges in getting the necessary certifications for full, unsupervised self-driving, which is typically a multiyear process.

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