Intels Potential GlobalFoundries Acquisition Could Be a High Stake, High Reward Game, Says Analyst

However, in statements provided to other news outlets following publication, Salesforce confirmed it eliminated hundreds of jobs on Monday. That’s in part due to resource constraints, particularly in smaller or poorer countries. Egypt, for example, released a partial inventory of its 2015 emissions for the first time this year. Some of the data is self-reported by polluters, collected via surveys of key facilities and then extrapolated to create a country-level estimate. In India, “I know they’re literally out there counting cows for a few farms and then assuming these farms are representative for the whole country,” McCormick said.

Using AI and satellite data, Climate TRACE was able to determine that a significant share of carbon pollution comes from a small number of facilities. The database shows that one steel mill in Korea, for example, emits more greenhouse gas pollution in a year than all of Bosnia. “The politics of how you would transition a few facilities is strikingly different than when you’re saying, ‘Who could know where it’s coming from? That granularity will be critical for countries to have an accurate accounting of their emissions and where they come from, particularly countries that don’t have the resources to gather that data themselves.

The news comes on the heels of recent reports that Intel is in talks to buy RISC-V chip designer SiFive for $2 billion as it undergoes a major restructuring effort under new CEO Pat Gelsinger. Intel, one of the last companies in the semiconductor industry that both designs and manufactures its own chips, said earlier this year it would expand its advanced chip manufacturing capacity by spending as much as $20 billion to invest in factories in the U.S. Intel Corp. is exploring a deal to buy GlobalFoundries Inc., according to people familiar with the matter, in a move that would turbocharge the semiconductor giant’s plans to make more chips for other tech companies and rate as its largest acquisition ever.

If the U.S. and EU companies are not careful, China could end up someday making the lion’s share of non-high performance computing processors. GlobalFoundries will always be a force to be reckoned with in this area, but an alliance or pure buyout by Intel would assure that together they could beat off any Chinese competition in the nonhigh performance category. Their combined forces could be able to provide CPUs at all levels to global companies who could be leery of using Chinese CPUs and related chips that might include some level of spying or tracking technology.

GlobalFoundries is specialised in making integrated circuits on wafers for smartphones, cars and other applications. Chip designing firm Marvell has said it plans to build a “world-class” centre in Vietnam. The roundtable has not been announced, and it is unclear whether announcements will be made by any of the companies attending the meeting, which one of the sources said would involve about 30 top executives and officials. US officials have also said an upgrade of formal ties with Vietnam could help collaboration on artificial intelligence (AI), a sector in which Google is a major global player. Chip designing firm Marvell has said it plans to build a “world-class” centre in Vietnam. The round table has not been announced, and it is unclear whether announcements will be made by any of the companies attending the meeting, which one of the sources said would involve about 30 top executives and officials.

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The layoffs will bring the online payments company down to about 7,000 employees, according to a memo to staff from co-founders Patrick and John Collison that Stripe also posted publicly. Though Block said it does not tolerate illegal activity, Forbes reported that Cash App appears more frequently than other services in sex ads, and law enforcement professionals are concerned about its identity checks. Cash App, a closely watched driver of Block’s growth, generated $774 million in gross profit, which was up 51% from the year-ago period. More than a third of monthly active users use the Cash App Card product, which generates revenue from interchange fees and other banking services.

It will also help corporations looking for the most cost-effective, impactful way to cut emissions, said Gavin McCormick, another founding member of the coalition. The accelerator would allow companies to buy carbon credits, which would fund renewable energy projects in developing countries. Those companies would then be able to count the emissions cuts toward the reaching of their own net zero goals.

GlobalFoundries is concerned that such a combination would upset some of its key customers that compete with Intel, such as Advanced Micro Devices Inc (AMD.O), the sources said. President Joe Biden’s administration, which has become more hostile to transformative mergers, the sources added. GlobalFoundries is expected to reveal its IPO filing in October and go public by the end of the year or early next year, depending on how quickly its application is processed by the U.S. U.S. officials have repeatedly said that assembling and designing were the segments of the chipmaking industry where Vietnam was likely to grow faster, although a shortage of engineers could slow the industry take-off.

Nvidia probably isn’t too worried about Intel’s GPUs, since it controlled 81% of the discrete GPU market in the first quarter of 2021, according to JPR. GlobalFoundries CEO Thomas Caulfield recently dismissed those rumors, but the WSJ report implies that Intel has actually been holding talks with GlobalFoundries’ top stakeholder — Abu Dhabi’s sovereign wealth fund Mubadala Investment — instead of GlobalFoundries’ executives. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The acquisition, if completed, could help Intel boost its recently announced Intel Foundry Services (IFS) division, which it hopes to use as a means to increase its foothold in the market.

Trump allies are questioning US democracy. Tech is letting them.

Elon Musk sent his first email to Twitter staff late Wednesday, warning of a difficult economic road ahead and telling employees they need to be in office for a minimum of 40 hours per week. “Sorry that this is my first email to the whole company, but there is no way to sugarcoat the message,” he began, ominously. “This issue appears to be getting worse, as fraud and scams make up more than half of virtual currency’ complaints received thus far in 2022,” the report said.

Gross profit came in at $1.57 billion, beating expectations of $1.5 billion, per FactSet, and up from $1.1 billion in the year-ago period. Analysts generally prefer to look at gross profit for Block rather than revenue since it excludes bitcoin gross trading volume. The company barely mentioned crypto in its earnings release, except to note that Cash App crypto trading revenue fell. Installing all those heat pumps will also require a workforce to grow alongside the market. The IEA encourages policymakers to anticipate potential labor challenges “to avoid bottlenecks” on the way to net zero, and specifically recommends investment in knowledge-sharing and upskilling for HVAC employees. To help decarbonize home heating and cooling, we need those heat pumps, and fast.

The inventory, published on Wednesday on Climate TRACE’s website and free for anyone to access, includes emissions data for 72,612 individual sources, including power plants, steel mills, and oil and gas fields. “The fact is that we have to accelerate the clean energy transition, and, my friends, it takes money to do that,” he said, noting that the bulk of that investment needs to go toward emerging and developing economies. An International Energy Agency report put out last year found that to reach net zero by midcentury, the world will need to ramp clean energy spending up to more than $4 trillion annually by 2030. Carbon credit programs like this have been criticized historically for a multitude of reasons, ranging from being used to greenwash corporations to being an ineffective way of achieving emissions reductions.

According to AMD’s CEO at the time, Hector Ruiz, that deal only came together through a dinner with Formula One team Ferrari. According to people familiar with the matter, speaking to the Wall Street Journal, Intel was said to be exploring the possibility of a deal to purchase GlobalFoundries for a grand sum of $30B in a bid to expand its manufacturing capabilities across the globe. According to the Microsoft report, more than two-thirds of sustainability leaders were internal hires.

Smartphone and PC makers are currently grappling with excess inventories of memory chips after stockpiling them during the pandemic-induced boom. As inflation soared, consumers have been cutting back on these goods and prices for memory chips have fallen. Some catalysts include “new and important applications, the whole AI and how that will change society” — which will require chips and create demand, he explained. GlobalFoundries, which halted operations in Chengdu in May 2020, did not immediately reply to an emailed request for comment. Thunderbolt 5 seems ideal for docking laptops to multiple displays, particularly because it supports multiple 8K monitors, three 4K monitors at 144Hz (instead of two 4K monitors limited to 60Hz with Thunderbolt 4), and a minimum of 140 watt charging or up to 240 watts. Built on USB4 v2, Thunderbolt 5 will be compatible with previous versions of Thunderbolt and USB.

Intel’s Potential GlobalFoundries Acquisition Could Be a High Stake, High Reward Game, Says Analyst

Investors are closely watching Block’s performance as a measure of broader consumer spending amid worries about inflation and a looming recession. “That [increase in fossil fuel prices] definitely spurs increased interest in heat pumps,” Calisch said, citing the fact that heat pumps cost users less in heating than other types of systems. This heat pump enthusiasm is happening against the backdrop of instability in the natural gas market, prompting higher winter heating bills worldwide. The Energy Information Administration’s recent Winter Fuels Outlook anticipated a 19% increase in natural gas prices this year as compared with last.

So, long story short, if Intel could net a deal to purchase GlobalFoundries, it would be responsible for the WSA that AMD is indebted to. However, it must be said that corporate deals take years to finalise, so even if Intel were to purchase GlobalFoundries, which is now heavily disputed, it wouldn’t likely have long left on AMD’s WSA contract, which effectively ends all obligations to GlobalFoundries by 2024. A new report from Microsoft and the Boston Consulting Group on “closing the sustainability skills gap” found that 57% of sustainability professionals lacked a sustainability-related degree, and that more than 40% had no more than three years of sustainability experience. Green jobs and corporate climate pledges abound, but skilled sustainability professionals are scarce. However, he expressed optimism that advertisers would move even more of their budgets to streaming once the worst of the current crisis is over. “We expect to emerge from the current advertising downturn stronger and in a better position than ever,” Wood said.

“There may be internal limits to how many facilities Intel can bring up,” said Dean McCarron, president of Mercury Research, which tracks market among chipmakers. Hutcheson said that if Intel cannot buy a foundry business, its only other option may be to go after smaller chip firms that still own some of their own candlesticker factories, like On Semiconductor Corp (ON.O) and Analog Devices Inc (ADI.O). July 21 (Reuters) – For Intel Corp (INTC.O) Chief Executive Pat Gelsinger, an obvious strategy in his high-stakes bid to make the company a player in producing chips for others would be a transformational acquisition, analysts say.

Intel makes Thunderbolt 5 official, promising speeds of up to 120Gbps

“Some consumers stated that they have lost hundreds of thousands of dollars due to unauthorized account access. The prevalence of fraud and scam complaints raises the question of whether crypto-asset platforms are effectively identifying and stopping fraudulent transactions.” In an analysis published Thursday, coming as FTX’s potential collapse has roiled the entire industry, the CFPB detailed how reports of fraud make up about 40% of the more than 8,300 cryptocurrency-related complaints it https://1investing.in/ received between October 2018 and September 2022. The broader crypto market, which was already reeling from a dramatic crash that wiped out $2 trillion in value, took another hit as the market value of issued tokens fell below $900 million. “I want to assure every employee, customer, creditor, contract party, stockholder, investor, governmental authority and other stakeholder[s] that we are going to conduct this effort with diligence, thoroughness and transparency,” Ray said in a statement.

Among those impacted will be employees in the devices, human resources, and retail divisions, according to The New York Times, which first reported the layoffs. Intel’s acquisition of Globalfoundries is unlikely, as GF’s manufacturing capability that is more focused on mature and specialty process technology contradicts Intel’s ambition of regaining its advanced manufacturing lead, according to industry sour… But under Pat Gelsinger, the engineering veteran who replaced Swan earlier this year, it looks much clearer.

The proposed deal would dwarf Intel’s $16.7 billion Altera acquisition, which was its largest thus far. Intel recently sold off its NAND and SSD business to SK hynix for $9 billion as it looks to focus on its core competency of manufacturing high-margin logic devices. Intel has pledged $20 billion of its own money to kick-start that initiative with two fabs in Arizona. Acquiring GlobalFoundries would be an immediate shot in the arm for that initiative, particularly because it would bring in experienced leadership teams and an already-healthy third-party foundry business.

• “That [increase in fossil fuel prices] definitely spurs increased interest in heat pumps,” Calisch said, citing the fact that heat pumps cost users less in heating than other types of systems.
• GlobalFoundries is concerned that such a combination would upset some of its key customers that compete with Intel, such as Advanced Micro Devices Inc (AMD.O), the sources said.
• With that in mind, the report defined potential “game-changers” to include new technologies with no current commercial adoption (such as fusion energy), improved existing technologies (such as direct air capture), or combinations thereof.
• Intel has a US$1.5 billion factory in southern Vietnam for assembling, packaging and testing chips, the biggest in its global network, and has had plans to expand it.

Intel’s new CEO, Pat Gelsinger, has been making the rounds in Europe to talk about Intel’s manufacturing plans, even speaking with French president Macron and Italian PM Mario Draghi about spending big in the EU. Yet there has been rumour of another deal afoot for the x86 chip maker, as a report suggested Intel could be eyeing up the once manufacturing arm of AMD turned “speciality foundry”, GlobalFoundries. The agency is currently soliciting opinions on how to make best use of that pot. The Meta layoffs come less than a week after Elon Musk cut a large portion of Twitter’s employees overnight. Employees will also receive their RSU vesting next week and be paid for uncompleted time off.

TSMC tells vendors to delay chip equipment deliveries – sources

The banks, the SEC, Advanced Micro Devices and the White House did not immediately respond to requests for comment. The new facility will create about 1,000 “high-value” jobs in Singapore, of which 95% will include equipment technicians, process technicians and engineers, the company said. “As Singapore’s most advanced semiconductor facility to date, the expansion fab will produce an additional 450,000 wafers (300mm) annually, raising GlobalFoundries Singapore’s overall capacity to approximately 1.5 million wafers (300mm) each year,” it added. Its chips are found in smartphones, laptops, automobiles, virtual reality systems, video game consoles, smart speakers, and are also used in AI and 5G. Intel declined to comment, while Mubadala and GlobalFoundries did not immediately respond to Reuters requests for comment.

That’s not a reason to not invest in them, though, and the working group will be calibrating what the best levels of funding could look like. Dropped a 10-step how-to guide to ensure net zero plans are real talk and not greenwashing, care of an expert panel that has a name much too long to print. And it’s well worth a read whether you’re a CSO looking to improve your company’s climate plan or a Big Tech watchdog who wants to make sure companies are doing the right thing.

EXCLUSIVE Chipmaker GlobalFoundries files confidentially for U.S. IPO -sources

The DOJ said it recovered more than 50,676 bitcoin from the home of James Zhong who pleaded guilty to wire fraud charges following what the agency described as the largest cryptocurrency seizure in its history. The purchase price was reportedly dependent on certain performance milestones, including the SEC approval of this new interest product, which would boost the purchase price by $25 million. The Climate TRACE coalition just released the world’s most detailed inventory of global greenhouse gas emissions, which Gore, a founding member, is unveiling on Wednesday at the United Nations climate summit in Egypt. The plan, dubbed the Energy Transition Accelerator, was announced in partnership with the Bezos Earth Fund and the Rockefeller Foundation. Kerry, who is the Biden administration’s climate envoy, told an audience at the COP27 climate conference in Egypt that the goal is to “have this up and running no later than COP28,” which will take place next year in Dubai. The change in policy may push more Tweeps to leave — but this may be Musk’s intention.

Kerry announced a few safeguards to try to quell skepticism, including that fossil fuel companies would not be allowed to participate in the program. Only companies with net zero goals and science-based interim targets will be allowed to participate, and they must use the credits to “supplement, not substitute” emission reductions. He also said that a portion of finance must go toward “supporting adaptation and resilience in vulnerable countries where it’s difficult to attract capital to these two sectors.” The analysis found “that complaints related to crypto-assets may increase when the price of bitcoin and other crypto-assets increase,” as noted in the report. With prices falling rapidly this year, fraud and scam reports have captured a greater share of overall complaints.