Intel in talks to buy GlobalFoundries for about $30 billion WSJ

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.

“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 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.

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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.

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.

• 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.
• AMD can now procure chips from other foundries as it so wishes, although a key stipulation in the WSA says it must purchase at least $1.6B worth of chips from the fab by 2024 or else incur a fine, payable to GlobalFoundries.
• The investments are putting into action Intel’s new IDM 2.0 strategy, an overhauled take on its integrated device manufacturing (IDM) model, which CEO Pat Gelsinger announced earlier this year.
• GlobalFoundries, which is owned by Abu Dhabi sovereign wealth fund Mubadala Investment Co, has a manufacturing footprint across the U.S., Europe and Asia.
• They eventually tightened their focus on PCs and servers but still provide some mid-level processors to meet various industries’ needs.

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.

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.

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.

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 finviz alternative india 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.

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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.

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.

• That’s a touch behind TSMC, Samsung, and Intel, all of which are developing processes at 7nm or beyond.
• Salesforce is preparing for a major round of layoffs that could affect as many as 2,500 workers across the software vendor, Protocol has learned, in a bid to cut costs amid a new activist investor challenge and harsh economic conditions.
• Zuckerberg said the company is also shrinking its real estate footprint in order to contain costs, and extending its current hiring freeze through the first quarter of 2023.
• But if Intel gobbles up GlobalFoundries, it could accelerate its development of new chips, while its increased scale could help it avoid future chip shortages.

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’ https://1investing.in/ 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.

Move comes as Intel is launching a major push to become a chip manufacturer for others

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.

“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 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.

GlobalFoundries reportedly files for IPO, suggesting Intel acquisition isn’t in the cards

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.

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.

Intel’s foundry ambitions could be slowed by lack of deal targets

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.

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.

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.

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

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.

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.