Related News

For a long time, scientists believed that only amphibians like salamanders could regrow complex limbs. But then came some groundbreaking findings from Texas A&M University. Researchers there discovered that mammals

NASA’s Jet Propulsion Laboratory recently reached a significant achievement in space travel technology. They successfully tested a lithium-fed magnetoplasmadynamic (MPD) thruster, establishing a domestic power milestone for power output in

While staying at the Imperial Hotel in Tokyo during a lecture tour, Albert Einstein found himself in an awkward situation. A hotel bellboy had delivered a message to his room,

Have you ever wondered why rockets eventually tilt themselves after launch? Most people assume a rocket’s goal is to fly as high as possible, but ‘up’ is only the first

The Sombrero galaxy and its glowing halo of stars have never looked this good. The US National Science Foundation’s NOIRLab released the latest photo of the popular hat-shaped galaxy on

Researchers in China have discovered the 11th new lunar mineral, ‘Cerium–Magnesium Changesite,’ from the first Moon meteorites recovered in China. This important advancement, announced by the China Geological Survey, represents

Trending News

In today’s digital age, the opportunity to make money online without any initial investment is more accessible than ever before. Whether you’re a student looking to earn some pocket money,

In today’s digital world, make money online has become a dream many want to turn into reality. Whether you’re looking for a side hustle or aiming to build a full-time

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

Intel gets $5.7 billion from Trump deal while details are ‘ironed out’

Word Count: 261 | Estimated Reading Time: 2 minutes


Intel CFO: Received $5.7 billion in cash from U.S. government last night

Intel CFO David Zinser said that the semiconductor giant received $5.7 billion from the U.S. government on Wednesday evening.

Zinsner acknowledged the investment on Thursday during an investor conference. The investment is part of the White House’s decision last Friday to take a 10% stake in the beleaguered computer chip company.

Zinser also signaled the possibility that Intel seeks outside investment for its foundry business.

The company reported better-than-expected second-quarter results on July 25, but its shares sank 8% due to concerns over the business of its foundry unit, which manufactures computer chips for other firms.

“There’s likely going to be some opportunity for outside investors in foundry, and that will probably be our second opportunity to raise cash to fund the growth on the foundry side,” Zinser said.

White House press secretary Karoline Leavitt said Thursday that the Intel deal is still “being ironed out by the Department of Commerce.”

“The T’s are still being crossed, the I’s are still being dotted,” Leavitt said. “It’s very much still under discussion.”

Intel released a corporate filing on Monday in which it warned that the deal with the U.S. government could generate “adverse reactions” from investors, employees and others.

“There could be adverse reactions, immediately or over time, from investors, employees, customers, suppliers, other business or commercial partners, foreign governments or competitors,” the filing said. “There may also be litigation related to the transaction or otherwise and increased public or political scrutiny with respect to the Company.”

WATCH: Intel CFO: Received $5.7 billion in cash from U.S. government last night.



Source link

Most Popular Articles