CFRA Stays Sidelined on Intel (INTC) Even Though 'we like potential growth prospects'

BofA Securities 'Incrementally positive on potential 2H recovery' for Intel (INTC)

March 21, 2024 6:17 AM EDT

BofA Securities analyst Vivek Arya reiterated a Neutral rating and $50.00 price target on Intel (NASDAQ: INTC).

The analyst comments "We hosted INTC CFO David Zinsner and IR Head John Pitzer for a well-attended investor dinner in Santa Clara on Tuesday. Management highlighted: 1) Enterprise AI... More

Popular stocks with increasing volume: INTC MU BA PBR COIN BAC PLTR SMCI C

March 20, 2024 1:52 PM EDT

Popular stocks with increasing volume: INTC MU BA PBR COIN BAC PLTR SMCI C

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Nvidia GTC: Citi discusses implications for Intel, Micron and AMD stock

March 20, 2024 11:38 AM EDT

In a note to clients this week, analysts at Citi discussed the implications for Intel (NASDAQ: INTC), Micron Technology (NASDAQ: MU), and AMD (NASDAQ: AMD) after Jen-Hsun Huang, CEO of NVIDIA... More

Midday movers: Mobileye, Chipotle rise; Signet, BioNTech fall

March 20, 2024 8:12 AM EDT

(Updated - March 20, 2024 11:26 AM EDT)

Investing.com -- Main U.S. indexes were flat Wednesday, with investors wary ahead of the latest Federal Reserve monetary policy decision.

Here are some of the biggest U.S. stock movers today:

Nvidia (NASDAQ: NVDA) stock fell 0.5% in volatile trading after the chipmaker revealed pricing and shipment plans for its hotly anticipated Blackwell B200 chip.

Intel (NASDAQ: INTC) stock rose 0.6% after the Biden administration announced it is... More

Volkswagen ADMT Announces Agreement With Mobileye (MBLY) for Autonomous Driving

March 20, 2024 7:57 AM EDT

Autonomous driving is coming. Following an extensive pilot phase with road testing in Germany and the USA, Volkswagen ADMT GmbH, part of Volkswagen AG, is announcing a cooperation agreement with the technology company Mobileye Global Inc. Mobileye shall develop and supply software, hardware components and digital maps for the self-driving ID. Buzz AD.

The main part of the agreement covers delivery and use of a self-driving system (SDS) for a special version of the ID. Buzz, which has been under development for autonomous driving since 2021. It corresponds to the so- called Level 4 definition of the Society of Automotive... More

Volkswagen Group intensifies collaboration with Mobileye (MBLY)

March 20, 2024 7:12 AM EDT

The Volkswagen Group is welcoming further strategic collaboration and significantly accelerating its development efforts in the field of automated and autonomous driving. Now, Volkswagen is intensifying its partnership with Mobileye in the domain of automated driving. Together, the two companies will bring new automated driving functions to series production. Mobileye is to provide technologies for partially and highly automated driving based on its Mobileye SuperVision and Mobileye Chauffeur platforms. In future, the Volkswagen Groups Audi, Bentley, Lamborghini and Porsche brands will use these technologies to rapidly introduce new premium-oriented driving functions to their model portfolios across powertrain types. These... More

Intel (INTC) option IV into U.S. Department of Commerce CHIPS Act funding headlines

March 20, 2024 5:57 AM EDT

Intel (NASDAQ: INTC) 30-day option implied volatility is at 34; compared to its 52-week range of 28 to 49 into U.S. Department of Commerce sign PMT for up to $8.5B in CHIPS Act funding.

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Intel (INTC) rises as Biden administration awards it $20 billion in grants and loans

March 20, 2024 5:49 AM EDT

The Biden administration, in a push to enhance semiconductor production in the United States, has provisionally agreed to grant Intel (NASDAQ: INTC) up to $8.5 billion in funding through the CHIPS Act.

Moreover, the chip manufacturer might secure up to $11 billion in loans under the CHIPS and Science Act, enacted in 2022. The deal is set to be officially announced by President Joe Biden in Arizona on Wednesday.

INTC rose more than 4% in premarket trading Wednesday.

The move is aimed at fostering the domestic production of advanced semiconductors, a move... More

Intel (INTC) awarded up to $8.5B from U.S. in direct funding under CHIPS and Science Act

March 20, 2024 5:20 AM EDT

The Biden-Harris Administration announced today that Intel and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms (PMT) for up to $8.5 billion in direct funding to Intel for commercial semiconductor projects under the CHIPS and Science Act.

CHIPS Act funding aims to increase U.S. semiconductor manufacturing and research and development capabilities, especially in leading-edge semiconductors. Intel is the only American company that both designs and manufactures leading-edge logic chips. The proposed funding would help advance Intels critical semiconductor manufacturing and research and development projects at its sites in Arizona, New Mexico,... More

Intel readies for $100-billion spending spree across four US states

March 20, 2024 5:10 AM EDT

By Stephen Nellis

SANTA CLARA, California (Reuters) -Intel is planning a $100-billion spending spree across four U.S. states to build and expand factories after securing $19.5 billion in federal grants and loans - and hopes to secure another $25 billion in tax breaks.

The centerpiece of Intel's five-year spending plan is turning empty fields near Columbus, Ohio, into what CEO Pat Gelsinger described to reporters on Tuesday as "the largest AI chip manufacturing site in the world", starting as soon as 2027.

The U.S. government announced the federal funds to Intel under the CHIPS Act on Wednesday.

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Biden awards $19.5 billion in grants and loans to Intel to boost US chip output

March 20, 2024 5:05 AM EDT

By Jeff Mason and Alexandra Alper

CHANDLER, Arizona (Reuters) -President Joe Biden awarded Intel nearly $20 billion in grants and loans on Wednesday, marking the U.S. government's largest outlay to subsidize leading-edge chip production and supercharging the company's domestic semiconductor chip output.

Biden announced the preliminary agreement for $8.5 billion in grants and up to $11 billion in loans for Intel in Arizona, where some of the funding will be used to build two new factories and modernize an existing one.

He said the pandemic helped cause an acute shortage of semiconductors, forcing factories to shut... More

Biden To Announce Grant For Intel (INTC) To Expand Chip Production - NYT

March 19, 2024 4:04 PM EDT

(Updated - March 19, 2024 4:07 PM EDT)

Biden To Announce Grant For Intel (NASDAQ: INTC) To Expand Chip Production - NYT

President Biden will issue a multibillion-dollar award to Intel on Wednesday to expand its chip production in the U.S., according to people familiar with the matter.... More

Mobileye (MBLY) to Wind Down Aftermarket Solutions Unit

March 18, 2024 8:34 AM EDT

Mobileye has chosen to wind down its aftermarket solutions unit that provides retrofitted advanced driver assistance technology, after a thorough review of this units business prospects and investment needs.

As automakers and other vehicle manufacturers have steadily increased the rate at which integrated ADAS solutions are installed on new vehicles, the demand and future addressable market for retrofitted ADAS solutions has... More