Intel reports $7 billion operating loss for chip-making unit
ReadWrite » Industrial
by Sophie Atkinson
2M ago
Intel has disclosed operating losses for its foundry business as it tries to regain a lead in the chipmaker industry. According to Reuters, the multinational corporation disclosed the figures on Tuesday (Apr 2). The manufacturing unit is reported as having $7 billion in operating losses for 2023. The year before, the loss was $5.2 billion. The unit had revenue of $18.9 billion for 2023, down by 31% from $27.49 billion in 2022. Speaking at an investor presentation, Chief Executive Pat Gelsinger is reported to have said 2024 would be the year of worst operating losses for the company’s chipmaki ..read more
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Intel set to receive $8.5bn from US Gov in semiconductor drive
ReadWrite » Industrial
by Sophie Atkinson
2M ago
Technology giant Intel is set to receive up to $8.5 billion in direct funding and $11 billion in loans from the U.S. Government to re-establish American leadership in semiconductor manufacturing. Announced today (Mar. 20) from the Biden-Harris Administration, the investment under the CHIPS and Science Act, as well as Intel’s already proposed funding over the next five years, marks one of the largest investments ever announced in U.S. semiconductor manufacturing. The CHIPS money is expected to include investments in Chandler in Arizona, Rio Rancho in New Mexico, New Albany in Ohio, and Hillsbo ..read more
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Samsung set to secure huge $6bn US investment
ReadWrite » Industrial
by Brian-Damien Morgan
3M ago
The United States is set to award Samsung over $6 billion to expand the company’s presence in the country. The Korean technology firm already has a burgeoning presence in Austin, Texas with projected plans for a new plant in Taylor to the tune of $17 million. The funding will be announced before the end of March and these awards will be drawn from the funding agreed in the 2022 Chips and Science Act. What is the Chips and Science Act? The act signed into law in August of 2022 was designed to boost the chip-making and semiconductor industry of America. Over $280 billion was allocated to b ..read more
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MIT researchers achieve fusion energy breakthrough
ReadWrite » Industrial
by Sam Shedden
3M ago
In a breakthrough that paved the way for unlimited carbon-free energy, Massachusetts Institute of Technology (MIT) engineers successfully tested a novel high-temperature superconducting magnet capable of generating a world-record 20-tesla magnetic field strength, a crucial milestone for enabling practical fusion power plants. Nearly three years after achieving this test, MIT researchers have now published a comprehensive analysis validating their record-smashing superconducting magnet technology, a key step toward commercial reactors that could provide unlimited clean power. “Overnight, it ba ..read more
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Nvidia CEO Jensen Huang says AI has ‘hit tipping point’ as revenues soar
ReadWrite » Industrial
by Rachael Davis
3M ago
Chief executive of the world’s leading chip maker Nvidia says that artificial intelligence (AI) has reached a global tipping point, as revenues soar. California-based Nvidia is responsible for more than 70 per cent of AI chip sales, with an even larger hold on training generative AI models. With the AI boom still in full flow, the company posted a barnstorming set of quarterly earnings yesterday. Revenues rose by a whopping 265% to reach $22bn between October 2023 and January 2024, compared to the year before. For 2023 as a whole, turnover reached over $60bn. At the same time, Nvidia became o ..read more
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Why has Nvidia’s stock started to fall this week?
ReadWrite » Industrial
by Brian-Damien Morgan
3M ago
Nvidia, the giant U.S. chip maker, has seen a 4.7% fall in its stock price since Friday’s closing bell ahead of the company’s earnings report later today (Feb.21). Nvidia is on a blistering run, it has been one of the best-performing stocks of 2024 so far, up 44.2% year-to-date and an eye-watering 236.6% over 12 months. What’s driving this incredible growth? Well, like many other Big Tech companies, it’s Nvidia’s part in the artificial intelligence (AI) revolution we see happening at the moment. Like those who sold pickaxes during a gold rush, Nvidia provides the essential GPU hardware that e ..read more
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Saudi Arabia to invest $100bn to create advanced robotics industry
ReadWrite » Industrial
by Sophie Atkinson
4M ago
Saudi Arabia is set to see a $100 billion investment over the next six years, with an aim to become a leader in the field of electronics and advanced industrials. On February 1, 2024, the country’s Public Investment Fund company Alat was launched. Four partnerships and the news of major investment have now been revealed. In an announcement today via press release (Feb 20) $100 billion will be invested by 2030. This will go towards enhancing the “capabilities of the technological sector, benefitting from the rapid development of this sector in Saudi Arabia.” Alat will be partnering with Softba ..read more
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China’s SMIC and Huawei building advance 5nm chips despite US
ReadWrite » Industrial
by Sam Shedden
4M ago
China is making significant progress in developing advanced semiconductors even as the United States tightens export controls to contain its technological ambitions. The country’s leading chipmaker SMIC has new production lines in Shanghai to manufacture next-generation 5-nanometer (5nm) mobile processors, reports the Financial Times. The chips are designed by technology giant Huawei as part of its homegrown Kirin line of smartphone processors. The importance of China’s 5nm chips The 5nm node represents a significant milestone and lags just one generation behind the cutting-edge 3nm chips fro ..read more
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Tesla settles hazardous waste lawsuit in California
ReadWrite » Industrial
by Sam Shedden
4M ago
Tesla has agreed to a $1.5 million settlement to resolve a California lawsuit alleging improper hazardous waste management at its facilities. The suit was filed by 25 counties across the state last week, claiming Tesla unlawfully dumped toxic materials like batteries, solvents, and electronic waste at local landfills and transfer stations over several years. As part of the swift settlement announced yesterday (Feb 1) by the San Francisco District Attorney’s office, Tesla has agreed to appoint third-party auditors to inspect its trash containers for hazardous waste over the next five years. Th ..read more
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Joe Biden to award billions to chipmakers in battleground states
ReadWrite » Industrial
by Brian-Damien Morgan
4M ago
President Biden’s Administration looks to award billions in U.S. investment dollars to major semiconductor companies located in the nation’s key battleground states. Investment announcements have been earmarked by industry executives familiar with negotiations, as reports the Wall Street Journal. The companies that are most likely to be backed by government funding are Intel, Taiwan Semiconductor Manufacturing Company Limited (TSMC) and Samsung to name a few. The news comes as the election trail heats up in America. The future of chip-making and semiconductors are a key talking point more tha ..read more
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