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| Microchip closing Ariz. fab amid slowing auto orders |
12/4/2024 |
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Microchip Technology plans to close its Tempe, Ariz., wafer fabrication facility by the third quarter of next year as automotive orders slow and inventory levels remain high. Products from Fab 2 will be moved to plants in Colorado and Oregon. The closure is expected to save $90 million annually.
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| Global Smartphone Market Forecast to Grow 6% in 2024 |
12/4/2024 |
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Global smartphone shipments are forecast to grow by 6.2% year-over-year (YoY) in 2024 to 1.24 billion units, according to the latest International Data Corp. (IDC) Worldwide Quarterly Mobile Phone Tracker. This strong growth follows two years of steep declines and is fueled by pent-up demand for device upgrades. While 2024 marks a strong rebound,
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| Bezos and Samsung invest $700M in AI chipmaker Tenstorrent |
12/3/2024 |
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Tenstorrent has raised $700 million in a funding round led by AFW Partners and Samsung Securities, with participation from Jeff Bezos, LG Electronics and Fidelity. The funding values Tenstorrent at $2.6 billion and will be used to expand the engineering team, invest in the global supply chain and build AI training servers.
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| Gelsinger out at Intel |
12/3/2024 |
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Intel has announced the retirement of CEO Pat Gelsinger, with David Zinsner and Michelle Johnston Holthaus named interim co-CEOs, effective Dec. 1. Gelsinger's tenure was a mixed bag, including major initiatives like the construction of chip manufacturing plants and advocacy for the CHIPS and Science Act but also challenges such as declining revenue and failed deals.
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| Qualcomm' no longer interest in Intel acquisition |
11/29/2024 |
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Qualcomm's interest in acquiring Intel has diminished, according to sources, who point to the complexities of such a deal, including Intel's $50 billion debt and potential regulatory hurdles. Qualcomm had initially considered the acquisition following Intel's disappointing earnings report and restructuring efforts, sources say.
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| Intel to close$8B CHIPS Act grant for factory projects |
11/29/2024 |
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Intel is nearing a deal with the US government for an $8 billion grant to boost its factory-building efforts in four states. The previously announced grant was reportedly reduced by around $500 million because Intel was previously awarded up to $3 billion for secure facilities designed to produce microchips for US military and intelligence. Funds will be disbursed to Intel at various milestones, with at least $1 billion coming later this year.
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| WD’s David Goeckeler Elected Chair of SIA |
11/26/2024 |
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Western Digital CEO David Goeckeler has been elected Chair of the Semiconductor Industry Association (SIA) Board of Directors. SIA represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms.
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