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Carnage in Chip Stocks Hits Extra Hard in Top-Heavy Market
The Wall Street Journal62d agoneutral
Carnage in Chip Stocks Hits Extra Hard in Top-Heavy Market

Shares of the chip-making giants that have powered the market’s climb to records tumbled, weighed down by new concerns that trillions of dollars invested in AI technology won’t yield the expected blockbuster returns. The losses intensified after a robust jobs report raised new worries that the Federal Reserve may need to raise interest rates later this year to fight inflation. Stocks, bonds, oil, gold and bitcoin all tumbled.

Foxconn announces strategic collaboration with Intel on next-gen AI infrastructure
Reuters63d agoneutral
Foxconn announces strategic collaboration with Intel on next-gen AI infrastructure

TAIPEI, June 4 () - Taiwan's ‌Foxconn announced ‌on Thursday a ​strategic collaboration with Intel to jointly develop ‌and ⁠deploy next-generation AI infrastructure ⁠and intelligent computing platforms. Foxconn, ​the ​world's ​largest contract ‌electronics manufacturer, said in a statement that the partnership ‌aims ​to ​create ​comprehensive AI ‌solutions spanning silicon, ​rack, ​system and application layers.

Foxconn and Intel team up to build next-gen AI systems
Reuters63d agoneutral
Foxconn and Intel team up to build next-gen AI systems

Foxconn said on Thursday it will work with U.S. chipmaker Intel ‌to jointly develop and deploy next-generation AI infrastructure ‌and intelligent computing platforms in a move to capture booming ​demand for AI computing systems. Taiwan's Foxconn, the world's largest contract electronics manufacturer, said in a statement that the partnership would combine Intel's chip technology with Foxconn's manufacturing ‌and system-building expertise. The ⁠companies plan to work on equipment used in AI data centres, including server ⁠racks powered by Intel Xeon processors and AI accelerator chips.

Qualcomm stock under pressure as Nvidia unveils new product
TheStreet63d agoneutral
Qualcomm stock under pressure as Nvidia unveils new product

Qualcomm's stock was under pressure on June 1 after Nvidia CEO Jensen Huang made a surprise move that rattled the PC chip market. At Taiwan's annual Computex conference, Huang shared that Nvidia (NVDA) is entering the personal computer processor market with a new chip developed in partnership with ...

TSMC boss upbeat on outlook as AI boom shows no sign of easing
Reuters63d agoneutral
TSMC boss upbeat on outlook as AI boom shows no sign of easing

Taiwan's TSMC, the world's largest contract chipmaker, said on ‌Thursday it is confident in its growth ‌over the next few years, driven by robust demand for ​computing power and advanced semiconductors, as it rides an AI boom. Chief Executive C.C. Wei, speaking at TSMC's annual shareholders' meeting in the northern Taiwanese city ‌of Hsinchu, added ⁠that its customers continue to express a positive outlook for the AI industry. Taiwan has taken centrestage this week as it hosts the annual Computex conference, where leaders of some of the world's most powerful tech ‌companies are gathering, with executives ​from the likes of Nvidia ​to Intel praising ​the island's central role in the ‌global supply chain.

Pulte Appointment to Intel Chief Puts Spy Powers Law in Jeopardy
Bloomberg64d agoneutral
Pulte Appointment to Intel Chief Puts Spy Powers Law in Jeopardy

(Bloomberg) -- Senate Democrats are threatening to block an extension of a controversial spy powers law if the White House refuses to withdraw its appointment of Bill Pulte as the acting director of National Intelligence. Most Read from BloombergTrump Begins Rebuilding His Tariff Wall, Citing Forced LaborRussia Finance Officials Tell Putin War Spending Is UnaffordableTrump to Get Audit Immunity as $1.8 Billion Fund in DoubtTikTok Billionaire Overtakes Mukesh Ambani as Asia’s Second-Richest Perso