Intel’s interim co-CEOs told an investment conference Thursday that it’s “an open question” whether the chipmaker is headed for a corporate breakup. “We are going down the path of creating a subsidiary for Intel Foundry as part of the overall company,” said Chief Financial Officer David Zinsner, who became one of Intel’s two interim leaders last week when CEO Pat Gelsinger abruptly retired . Intel Foundry is the company’s name for its semiconductor manufacturing business. Intel says the factory subsidiary will be able to pursue its own funding and customers, separate from the product design business. But many observers and investment analysts have predicted Intel will eventually spin off its factories into a separate company . “That’s an open question for another day,” Zinsner told the Barclays Global Technology Conference on Thursday. His counterpart, interim co-CEO Michelle Johnston Holthaus, said she thought separate companies would be a bad idea. Holthaus was also last week named permanent CEO of Intel Products, a newly created organization that oversees the design of Intel chips for data centers and PCs. Having the factories remain part of Intel could give her half of the business an advantage, she said, by giving the company’s designers early access to new manufacturing processes. Holthaus said she doesn’t expect Intel will split in two while suggesting the decision is out of her hands. “I don’t think so,” she said, “but someone will decide that.” Intel has just begun the search for a permanent CEO to oversee the whole company. Its board says it wants to move quickly but hasn’t set a timetable. Intel is struggling because, under Gelsinger, it committed to $100 billion in new spending at a time when PC sales were falling and rival chipmakers were taking market share in the data center industry. While Holthaus said Intel chips are still leading in the PC industry, she acknowledged that the company has “a lot of work to do on the data center side.” Intel has virtually no place in the booming market for advanced artificial intelligence and, on Thursday, Holthaus indicated it could take a long time for Intel’s products to be competitive. She said Intel’s forthcoming Falcon Shores graphics processing unit, designed for artificial intelligence, won’t change the company’s market position by itself. “Is it going to be wonderful? No. But it’s a good first step,” Holthaus said. Intel will learn from customer response to Falcon Shores, she said, and adjust future products accordingly. The company’s shares were up 3.2% Thursday morning at $20.76. -- Mike Rogoway covers Oregon technology and the state economy. Reach him at mrogoway@oregonian.com or 503-294-7699. Our journalism needs your support. Please become a subscriber today at OregonLive.com/subscribe
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Hildebrandt scores 9 as High Point knocks off Appalachian State 65-59Nokia Corporation Stock Exchange Release 12 December 2024 at 22:30 EET Nokia Corporation: Repurchase of own shares on 12.12.2024 Espoo, Finland – On 12 December 2024 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: * Rounded to two decimals On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million. Total cost of transactions executed on 12 December 2024 was EUR 3,676,744. After the disclosed transactions, Nokia Corporation holds 213,393,499 treasury shares. Details of transactions are included as an appendix to this announcement. On behalf of Nokia Corporation BofA Securities Europe SA About Nokia At Nokia, we create technology that helps the world act together. As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs. With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future. Inquiries: Nokia Communications Phone: +358 10 448 4900 Email: press.services@nokia.com Maria Vaismaa, Global Head of External Communications Nokia Investor Relations Phone: +358 40 803 4080 Email: investor.relations@nokia.com Attachment Daily Report 2024-12-12
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