Business, Financial & Legal News - Page 1
Intel hosted its first-ever Intel Foundry Direct Connect event, where the company added its new Intel 14A node to its extended process technology roadmap.
On the subject of AI, Intel CEO Pat Gelsinger said at the event: "AI is proudly transforming the world and how we think about technology and the silicon that powers it. This is creating an unprecedented opportunity for the world's most innovative chip designers and for Intel Foundry, the world's first systems foundry for the AI era. Together, we can create new markets and revolutionize how the world uses technology to improve people's lives".
Intel provided new details on how it plans to push into the lead ahead of TSMC (Taiwan Semiconductor Manufacturing Company) into 2026 and beyond. Intel wants to retake the mantle of making the world's fastest chips away from TSMC later this year with its upcoming Intel 18A process node, and then in 2026, it says it will push further into the lead with its next-gen Intel 14A process node.
NVIDIA has just posted its Q4 FY24 financial report, blowing everyone out of the water with $22 billion in revenue thanks to the AI GPU dominance the company has been firing on all cylinders with. Check it out:
Before the release, analysts were predicting $20.6 billion in revenue, but NVIDIA beat that with $22.1 billion for the three-month period. NVIDIA beat its own profit and revenue records here, where you can see in the chart NVIDIA posted above that its Data Center business is raking in all the cash.
Back in Q1 FY23, the company made $3.75 billion in revenue from its Data Center business, but now that has absolutely skyrocketed by 409% annually, whereas in Q4 FY24, the Data Center business did an absolutely incredible $18.4 billion in revenue.
Tesla has won a trademark dispute with a chicken shop owner located in Northern England after a year of back-and-forth arguments.
The chicken shop owner, Amanj Ali, has his takeaway store located in Bury, Greater Manchester, and in May 2022, Ali filed a trademark for the name of the store. Ali's store was called Tesla Chicken & Pizza, and when he filed the trademark, he cited Nikola Tesla as the inspiration of the name. However, in November 2023, Ali was ordered to pay £4,000, or $5,053 to Tesla for violation of its trademark, which the UK's Intellectual Property Office agreed with.
Despite Tesla originally not objecting to the newly filed trademark by Ali, the chicken shop owner was informed in November 2021 that Tesla had requested international protection for trademarks in the United Kingdom under the food and drink category. Ali opposed the request, and after a year of legal disputes where Tesla claimed Ali's trademark was taking advantage of Tesla's established reputation, the ruling was found in Tesla's favor.
Toyo Keizai published its annual 'Top 300 Richest Japanese Companies' list this week, looking at the country's various businesses and ranking them regarding cash flow and debt. Nintendo is Topping the list, still riding high on the immense financial success of the Nintendo Switch console and the smash hit Super Mario Bros. Movie.
Games-wise, Super Mario Bros. Wonder has sold over 12 million copies, with other notable 2023 releases like The Legend of Zelda: Tears of the Kingdom and Pikmin 4 has sold up to 30 million copies collectively.
Although Nintendo Switch sales have slowed as the console reaches the tail-end of its lifecycle, as a company, Nintendo is entirely debt-free and sitting on a Scrooge McDuck pile of money - over $11 billion USD or 1.7186 trillion Yen.
NVIDIA will have its earnings release tomorrow, but ahead of that, Wall Street is increasing its future NVIDIA share price expectations; now we've got Baird increasing its target price for NVIDIA stock from $750 to $1050.
Baird's new predictions on NVIDIA shares are very, very favorable for the AI GPU leader, representing a 44% hike from their historic highs already. Baird isn't the only financial firm to do this, last week saw Goldman Sachs increasing their NVIDIA share price target by 28%.
Baird analysts explained: "Per our Asia field trip, demand for NVIDIA's AI solutions remains unabated, with momentum from enterprise customers now rapidly building. Upcoming Blackwell architecture will drive another significant step up in performance, while ASPs will increase as well. TSMC remains on track for a doubling of CoWoS capacity this year which should help supply notably in 2H. GH200 performance is a magnitude higher than x86+H100, driving engagements with hyperscalers and HPC ODMs. CUDA ecosystem remains a major competitive advantage. Raising our estimates and price target on NVIDIA, Outperform rated".
Intel has reportedly demanded another $10 billion from the Biden administration and its CHIPS Act, which would be the largest award yet under the plan, which is bringing semiconductor manufacturing back onto US soil.
In a new report from Bloomberg, reporting from the usual "people familiar with the matter," the new package for Intel will include both loans and direct grants. Bloomberg's sources said that they didn't want to be identified because the deliberations are private -- well, not anymore -- stressing that negotiations are still in the works.
The 2022 Chips and Science Act (CHIPS) put aside $39 billion in direct grants as well as loans and loan guarantees worth $75 billion in order to lure the world's top semiconductor companies to manufacture chips in the US. CHIPS companies have invested over $230 billion in the US since Biden took office, with his administration having a goal of getting at least two leading-edge manufacturing clusters by 2030 on US soil.
Deepfake pornographic images of students took over a school and now lawmakers have been forced to come up with new laws to punish creators of the images.
The deepfake pornographic images event occurred in November last year at Issaquah High School in suburban Seattle, Washington State. A student at the school reportedly took photos of his female classmates and used AI technology to "undress" them. These photographs were then passed around the school, sparking police attention. 404 Media obtained the police report from the event, and it confirms that web-based apps designed to "nudify" or "undress" people were used to create deepfake images of underage female students.
Notably, the police report states these web apps only need one image of an individual to create a realistic nude image. Additionally, the police report states the school didn't immediately inform the authorities of the circulating images, and police were actually notified by three parents separately. Furthermore, an officer said they were surprised the school didn't contact police regarding the images as they qualify as "sexual abuse" and school administrators are "mandatory reporters".
Samsung has reportedly won a contract from a Japanese startup, building their new chips on Samsung's fresh 2nm process node... taking the 2nm battle to TSMC's doorstep in 2025 and beyond.
Japan's Preferred Networks (PFN) is a startup that specializes in research and development of deep learning for IoT applications and is often referred to as the most advanced firm in Japan through its resources and expertise in developing custom software and supplying various customers with supercomputers.
In a new report from Seoul Economic Daily, Samsung has reportedly inked a new deal with PFN that would see both companies benefitting. PFN gets its hands on the latest chip technology that allows it to have an advantage over its competitors, while Samsung gets to talk up its foundry business pumping out 2nm chips against TSMC (Taiwan Semiconductor Manufacturing Company).
NVIDIA blasted past a $1 trillion market cap last year, but now it's sitting on an incredible $1.78 trillion market cap... that's a $780 billion (yeah, with a B). It hasn't even been a year... and the company hasn't even launched its beefed-up H200 AI GPU, or next-gen B100 "Blackwell" AI GPU.
NVIDIA's stock has surged an incredible 400% since the beginning of 2023, but the $700 billion+ of added market capitalization -- to put it into other terms -- makes Tesla stock look puny in comparison. Tesla has a market capitalization of $576 billion at the time of writing.
The Kobeissi Letter posted on X: "NVIDIA, $NVDA, is now the 4th most valuable public company in the world, worth $1.84 trillion. Today, NVIDIA's market cap passed both Google and Amazon for the first time in history. Since January 1st, NVIDIA has officially added $650 BILLION in market cap. That's more than the entire value of Tesla in less than 6 weeks. Truly incredible".
TSMC is reportedly securing a secret deal with South Korean memory manufacturer SK hynix, which would see the two companies teaming up to make next-gen memory products for AI, along with processors and GPUs.
HBM memory is one of the hottest parts of any AI GPU, and SK hynix has been leading the charge for a while now. But with the relationship between Taiwan Semiconductor Manufacturing Company (TSMC) and SK hynix, we should expect the two companies to combine the best of what they do -- chip packaging and memory fabrication -- to compete, and I'm sure, hopefully, dominate South Korean rival Samsung.
The unconfirmed reports of TSMC and SK hynix teaming up together would see a change in the HBM memory market, as they're essential to AI systems and products, which have insatiable demand right now. There has been absolutely no slowdown, and no slowdown is forecasted for the years ahead when it comes to the world of AI.