Pat Gelsinger

09 Aug

Intel Scraps Innovation Expo as Cash-Strapped Company Makes Cuts

stp2y0 CommentsRAG modelsAmericas, artificial intelligence, california, Earnings, infrastructure, INTEL CORP, jobs, Pat Gelsinger, San Jose, Technology, Utilities

Intel Corp., which is cutting jobs and costs to preserve its shrinking cash pile, postponed an Innovation event that had been scheduled for next month in San Jose, California. The chipmaker plans to focus on other gatherings, such as webinars, hackathons and the Intel AI Summit, in lieu of the Innovation conference, the company said Friday in an emailed statement. Source link lol

09 Aug

With US Chips Act Money Mostly Divvied Up, the Real Test Begins

stp2y0 CommentsRAG modelsbusiness, construction, INTEL CORP, joe biden, labor, MICRON TECHNOLOGY INC, new york, Ohio, Pat Gelsinger, SAMSUNG ELECTRONICS CO LTD, Technology, Washington

The Biden administration is nearly finished divvying up $39 billion in grants under the Chips and Science Act, the landmark bipartisan legislation aimed at revitalizing the domestic semiconductor industry. The bigger test still lies ahead.The Chips Act, enacted two years ago Friday, is the nation’s most audacious foray into industrial policy since World War II. It’s essentially a bet that four companies — Intel Corp., Micron Technology Inc., Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. — can bring sophisticated chip production back to the US. In a sign of the ambition, one explicit goal is making a fifth of…