Business

SoftBank Ends AI Chip Partnership with Intel, Eyes TSMC

Aug 15, 2024 1 min read

Jump to Summary

Japanese tech investor SoftBank has abandoned plans to produce an artificial intelligence chip in collaboration with Intel. The decision was driven by Intel's inability to meet SoftBank's requirements for volume and speed, as reported by the Financial Times. The breakdown in talks occurred in the context of Intel's significant cost-cutting measures, which included thousands of layoffs announced in early August.

In response, SoftBank is now directing its focus towards Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chipmaker. This shift in partnership aims to continue SoftBank's efforts to compete with Nvidia in the AI chip market. Discussions with TSMC are ongoing as SoftBank seeks to leverage the company's manufacturing capabilities.

#tech #finance #ai #markets

Summary

Other news in business

Draghi Calls for €800bn EU Investment to Compete Globally

The European Union (EU) requires a more coordinated industrial policy, rapid decision-making, and significant investment to remain competitive with the United States and China, according to a report by former European Central Bank chief and Italian Prime Minister, Mario Draghi. The report, commissioned by the European Commission, calls for an

Lilly Promotes Lucas Montarce to EVP and CFO

Eli Lilly and Company (Lilly) has appointed Lucas Montarce as its new executive vice president and chief financial officer (CFO), effective immediately. Montarce, who joined Lilly in 2001, has held various finance leadership roles, including group vice president, corporate controller, and global CFO of Lilly Research Laboratories, Lilly International, and

Methanex Acquires OCI's Methanol Business for $2.05 Billion

OCI Global has entered into a binding equity purchase agreement to sell its Global Methanol Business to Methanex Corporation for $2.05 billion. The transaction will be settled through a combination of $1.15 billion in cash, the issuance of 9.9 million shares of Methanex valued at approximately $450

James Gandolfini Dared HBO Exec to Fire Him During 'Sopranos' Intervention

Former HBO CEO Chris Albrecht has disclosed that James Gandolfini once challenged him to "fire" him from "The Sopranos" after an intervention was staged to persuade the actor to enter rehab for his alcohol struggles. The revelation is part of the new documentary, "Wise Guy: