Your current location is:{Current column} >>Text
Intel soars on plan to establish Intel Foundry as an independent unit, AWS pact By
{Current column}78People have watched
IntroductionIntel Corporation (NASDAQ:) announced a strategic move to set up its Intel Foundry Services as an in ...
Intel Corporation (NASDAQ:) announced a strategic move to set up its Intel Foundry Services as an independent subsidiary within the company. Shares surged 8.6% in afterhours trade.
The zfx Shanhai Securities official website entrancecompany said the decision is aimed at completing a process started earlier this year, involving the separation of profit and loss, as well as financial reporting for the foundry business and Intel Products.
The creation of this subsidiary is expected to offer clear benefits by providing external foundry customers and suppliers with greater separation from Intel's core operations. It also allows for potential independent funding sources and the optimization of capital structures to spur growth and shareholder value.
Pat Gelsinger, CEO of Intel, assured employees that the leadership team of Intel Foundry Services would remain unchanged and continue to report directly to him. An operating board, including independent directors, will be established to govern the subsidiary.
In a related development, Intel and Amazon (NASDAQ:) Web Services (AWS) have entered into a multi-year, multi-billion-dollar agreement to co-invest in custom chip designs.
“This expansion of our longtime relationship with AWS reflects the strength of our process technology and delivers differentiated solutions for customer workloads,” said Gelsinger.
“Intel’s chip design and manufacturing capabilities, combined with the comprehensive and broadly adopted cloud, AI and machine learning services of AWS, will unleash innovation across our shared ecosystem and support the growth of both businesses, as well as a sustainable domestic AI supply chain.”
This arrangement represents a significant broadening of the existing strategic partnership between the two tech giants, aiming to empower customers to handle various workloads and boost AI application performance.
As part of the deal, Intel will manufacture an AI fabric chip for AWS using its most advanced process node, Intel 18A, and a custom Xeon 6 chip on Intel 3.
The collaboration between Intel and AWS is not new, with a history dating back to 2006. AWS is also contributing to the region's technological development with a planned investment of $7.8 billion to expand its data center operations in Central Ohio, adding to its significant investments in the state since 2015.
Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!Tags:
Related articles
India's milk imports soar as disease hits local cattle stock By Reuters
{Current column}By Rajendra JadhavKHEJRI BUJURG, India (Reuters) - Buying milk is getting expensive in India and the ...
Read moreUFUEX just informed me that a $1,540 “final compliance adjustment”
{Current column}I combed through their documentation—this fee doesn’t exist anywhere. My account has been approved f ...
Read moreAvafundify has now blocked my funds unless I pay a $1,700 “regulatory synchronization fee.”
{Current column}That’s a complete lie—they never disclosed this charge anywhere. I emailed support, and they gave me ...
Read more
Popular Articles
- Elon Musk Acquires a Stake in Lovin Dubai for $100 Million: Report By CoinEdition
- TradeLGT hit me with a $1,700 “clearance settlement fee” just as I attempted to withdraw my funds.
- 1FXT is demanding a $1,880 “compliance synchronization fee” for my withdrawal
- Fast Pips Tech Analysis is now demanding a $1,800 “capital release approval fee”
- Norwegian Cruise lifts profit forecast on higher ticket prices, steady demand By Reuters
- Global Investment Strategy suddenly added a $1,760 “compliance fund approval fee”
Latest articles
-
ONEOK to buy Magellan Midstream Partners in deal valued at $18.8 billion By Reuters
-
CelloBase Capital Ltd blocked my withdrawal again—this time, they want $2,200
-
FXprofinance just blocked my withdrawal and demanded a $1,780 “profit verification fee.”
-
FXprofinance just blocked my withdrawal and demanded a $1,780 “profit verification fee.”
-
US sets $259 million F
-
Indices Promarket has now demanded a $1,560 “account unlocking fee” before releasing my balance