Intel Corporation reports developments across its advanced semiconductor design and manufacturing business, including Intel Products, the Client Computing Group, Data Center and AI, and Intel Foundry. Company updates commonly address operating results, CPU and AI-related demand, wafer and advanced packaging capacity, corporate strategy, capital allocation, and changes affecting major manufacturing assets.
Intel news also includes governance and leadership developments, proxy matters, and ownership-linked updates from Mobileye, an independently listed company in which Intel retains majority ownership. These items connect Intel’s public-company disclosures with its product roadmap, foundry strategy, manufacturing network, and broader semiconductor capital structure.
Mobileye Global Inc. (MBLY) released Q2 2024 results, showing a 3% year-over-year revenue decrease to $439 million. However, revenue increased 84% from Q1 2024 due to reduced excess inventory consumption. The company reported a 110% increase in systems shipped compared to Q1 2024, leading to improved Operating Loss and Adjusted Operating Profit. Diluted EPS (GAAP) was $(0.11), while Adjusted Diluted EPS (Non-GAAP) was $0.09. Mobileye reduced expectations for H2 2024 volume and revenue, primarily due to China-related macro factors. The company remains optimistic about medium-term growth, citing progress in SuperVision/Chauffeur programs and an expanded relationship with Zeekr and Geely Group. Mobileye also noted emerging traction for high-ASP products in mid-priced, high-volume segments.
Intel has appointed Dr. Naga Chandrasekaran as chief global operations officer, executive vice president and general manager of Intel Foundry Manufacturing and Supply Chain organization. He succeeds Keyvan Esfarjani, who is retiring after nearly 30 years with the company. Chandrasekaran, joining from Micron where he was senior vice president for Technology Development, will be responsible for Intel Foundry's worldwide manufacturing operations, including Fab Sort Manufacturing, Assembly Test Manufacturing, strategic planning, corporate quality assurance, and supply chain.
Chandrasekaran brings over 20 years of experience in semiconductor manufacturing and R&D from Micron. He will work closely with other Intel Foundry leaders to achieve Intel's goal of creating the first systems foundry for the AI era. This appointment is part of Intel's strategy to build a globally resilient semiconductor supply chain and capitalize on long-term growth opportunities in the AI-driven computing market.
Intel has announced exciting collaborations demonstrating its commitment to making AI accessible and fostering innovation. Key highlights include:
1. Partnership with the International Olympic Committee (IOC) to develop Athlete365, a chatbot powered by Intel Gaudi accelerators and Xeon processors, to assist athletes during the Olympic Games in Paris.
2. Introduction of an industry-driven generative AI (GenAI) retrieval-augmented generation (RAG) solution, designed to tackle challenges in deploying GenAI solutions.
3. Collaboration with industry partners to create an open-source, interoperable solution for easy RAG deployment, built on the Open Platform for Enterprise AI (OPEA) foundation.
4. Joining the Coalition for Secure AI (CoSAI) to enhance trust and security in AI development and deployment.
Intel has launched its first U.S. registered apprenticeship program for manufacturing facility technicians in Arizona. The program, developed in collaboration with various organizations, aims to train facility technician apprentices over the next five years. Apprentices will be full-time Intel employees from day one, earning a certificate and college credit upon completion of the one-year program.
This initiative addresses the growing demand for skilled semiconductor technicians, as the industry is expected to add nearly 115,000 jobs by 2030, with 58% at risk of remaining unfilled. The program combines classroom instruction and on-the-job training, focusing on core competencies such as mechanical systems, electronics, chemical handling, and critical thinking skills.
Mobileye Global, a company specializing in advanced driver-assistance systems, announced it will release its financial results for Q2 2024 on August 1, 2024, before the market opens. Following the release, a conference call will be held at 8:00am ET to discuss the results and provide a business update. The call will be led by CEO Professor Amnon Shashua, CFO Moran Shemesh Rojansky, EVP of Business Development and Strategy Nimrod Nehushtan, and CCO Dan Galves. The event will be webcast live on Mobileye’s investor relations website, with a replay available shortly after.
Intel has announced that it will report its second-quarter 2024 financial results on Thursday, August 1, 2024, immediately after the market close. Following the report, Intel will conduct an earnings conference call at 2 p.m. PDT on the same day to discuss the results. Investors and the public can access a live webcast of the earnings call through Intel's Investor Relations website at intc.com. Additionally, related materials and a webcast replay will be available on the site.
Volkswagen Group has awarded Mobileye (Nasdaq: MBLY) the prestigious Volkswagen Group Award for Digitalization for 2024. This accolade was presented during a special event in Wolfsburg on July 2. The award recognizes Mobileye's contributions to innovative digital solutions, with a focus on enhancing Volkswagen's product portfolio and customer experience. The recognition underscores a long-standing partnership between Mobileye and Volkswagen, highlighted by the integration of Mobileye's advanced driver-assistance and autonomous driving technologies across multiple continents. Mobileye's technologies, including REM™ crowdsourced mapping and True Redundancy™ sensing, have been adopted in approximately 170 million vehicles worldwide. The award signifies Mobileye's continued influence in intelligent driving and road safety.
Intel has announced a breakthrough in integrated photonics technology by demonstrating the first-ever fully integrated optical compute interconnect (OCI) chiplet at OFC 2024. The OCI chiplet, co-packaged with an Intel CPU, significantly enhances high-bandwidth data transmission, important for AI infrastructure and high-performance computing (HPC). It supports 64 channels of 32 Gbps data transmission on up to 100 meters of fiber optics, addressing AI's growing demands for higher bandwidth, lower power consumption, and longer reach. Leveraging Intel's silicon photonics technology, the chiplet integrates with CPUs, GPUs, IPUs, and other SoCs, offering superior energy efficiency at 5 pico-Joules per bit. This innovation is expected to revolutionize AI infrastructure by enabling future scalability of CPU/GPU cluster connectivity, coherent memory expansion, and resource disaggregation.
Mobileye Global (Nasdaq: MBLY) announced the appointment of Elaine L. Chao to its Board of Directors as an independent director, effective June 7, 2024. Chao, a former U.S. Secretary of Transportation and Labor, brings extensive experience in technology, transportation, and business transformation. Her background includes roles in public, private, and nonprofit sectors, with two Cabinet positions confirmed by the U.S. Senate. She has served on several public company boards and holds degrees from Harvard and Mount Holyoke. Mobileye's CEO, Prof. Amnon Shashua, expressed confidence in Chao's positive impact on the company's mission to advance road safety through technology.
Mobileye, a leader in autonomous driving and driver-assistance technologies, has equipped about 170 million vehicles globally. The company, an independent entity from Intel since 2022, focuses on AI, computer vision, mapping, and integrated hardware/software, offering solutions from ADAS to autonomous vehicles.
Intel and Apollo have entered into a $11 billion joint venture for Intel's Fab 34 in Ireland. Apollo will acquire a 49% equity stake, while Intel retains 51% control. This is Intel's second SCIP arrangement, enhancing financial flexibility and supporting global manufacturing strategy. Fab 34, a state-of-the-art facility, began manufacturing processors in September 2023. The deal, expected to close by Q2 2024, allows Intel to redeploy capital and maintain its credit rating. Intel will continue to manage Fab 34 and fulfill wafer production commitments for itself and foundry customers.