Intel Required To Keep Control of Foundries Under $7.9 Billion Chips Act Deal 20
Intel must maintain majority control of its foundries as a condition of receiving $7.86 billion in U.S. CHIPS Act funding, according to terms disclosed in a regulatory filing [PDF]. The semiconductor giant will need to keep at least 50.1% ownership if the foundry unit is spun off privately, while no single shareholder can hold more than 35% of shares if it goes public unless Intel remains the largest stakeholder. The restrictions, which also require Intel to remain a customer, come as the company struggles financially and recently restructured its foundry business as an independent unit.
Intel's financial struggles (Score:4, Funny)
Have they tried cutting out the avocado toast and maybe not buying a new iPhone every year? /s
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Or just not buying nearly every High-NA EUV lithographer made this year maybe. There's gotta be an explanation for such a move beyond Intel's own self-interest.
well (Score:2, Insightful)
They didn't have a lot of choices.
When Pat came back, his plan was to make manufacturing good again, and to open up manufacturing to other clients. The latter was likely never going to work because Intel is famously dishonest (look at what happened with Qualcomm and Intel's efforts to steal their cellular technology) and because becoming established as a third party chip fab needs a lot of ground work they have never done. Thing is, that meant funneling vast resources into manufacturing and hoping that the
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Have they fired the cast of Eye Wide Shut yet? There's Oregon in a sling! She takes all the loads. Every hole filled with sweet corporate luvin. How 'bout those jobs? Don't feel sorry, Oregon wanted to hang with the cool kids. She said she'd do anything, anything. And to keep that foundry, we're going to find out how far she will sell her people out. Call back for a good time, okay? Terrific.
what about NO STOCK BUY BACKS ALLOWED as well? (Score:2, Insightful)
what about no STOCK BUY BACKS allowed as well?
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That ship already sailed years ago. Intel only stopped that when revenue dried up.
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However isn't the same also true of stocks? The stock has to be purchase
Re:what about NO STOCK BUY BACKS ALLOWED as well? (Score:4, Informative)
I think I can make devil's argument here.
The reason people think stock buybacks are bad for tech companies is for fundamental reason that it means that tech company has surplus money and doesn't invest in R&D, distribution, manufacturing, etc. Because tech companies fundamentally live and die by how fast they are in developing new technology and making products based on that new technology. All of this requires large sums of money, and raise value of the company.
If you're spending money doing buybacks instead of investing into company's future, you're are demonstrating that this money couldn't in fact be used to make company more valuable by investing in its core competencies and resulting in similar or better outcome instead. It's a message that company is so fundamentally inefficient, that trying to play the market is more efficient than trying to invest in it's core competency.
Re:what about NO STOCK BUY BACKS ALLOWED as well? (Score:5, Informative)
what about no STOCK BUY BACKS allowed as well?
As a matter of fact they are prohibited from doing stock buybacks for 5 years as a condition of the CHIPS grant. I know you thought you were being snarky but yes, that's actually one of the terms of the deal.
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It is not fast moving to build such things when that act was only started about 2 years ago. The real problem is who will be in charge of keeping tabs on that spending going forward. Biden has an exceptional record for tracking such projects while Trump's record is one of the worst; likely to be discovered to be the worst - he already pardoned his friends for gifting. The wall building billions were wasted on a wall I read a $30 angle grinder makes nice almost invisible doors in it!
Oh, when you build such
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he already pardoned his friends for gifting
Oh, when you build such things the locals insert all the gift they can as well.
The word is grift/grifting, not gift/gifting.
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Yes, but in context and el Bunko's fondness for "contributions", gifting is appropriate. Almost his entire prospective cabinet is there because they gifted him. The Maggots claim they want to prevent regulatory capture by companies, so they are now turning over the regulatory agencies to a different set of companies who will own those agencies.
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Based on our estimates of how much comes in, what percentage we catch and so on, the vast majority of drugs come in to the US through commercial ports on commercial shipments, and not through Mexico at all (although some does go through there of course, they have ports too.)
Certainly a small percentage of very high quality drugs are coming over on private planes, because why not?
Re:Billion dollar waste? (Score:5, Informative)
The agreement to leave Afghanistan was signed by el Bunko. And it did take time to get Ukraine's internal controls up to speed given the bad history they inherited from being a Soviet State.
Under el Bunko, we know precisely where the money will go, i.e., himself and his rich friends. The little people will get nothing.
As for passing off anything as fact, look at the response of Mexico's First Lady to el Bunko. In a phone call, she informed him the tariffs he was threatening would hit American companies in Mexico as well and domestic companies. Then she explained the Fentanyl pouring in the U.S. was 95% brought in by Americans and consumed almost exclusively by Americans. She also explained that Mexico does not currently allow caravans of migrants through Mexico, courtesy of an agreement with the Biden administration, and also explained Mexico's tightened border. She also explained America's broken immigration system, which would have been mostly fixed but for a bill el Bunko deep-sixed by his ass-kissers in Congress last summer because it would help Biden.
So what does el Bunko do? You need to guess? He announced that within 24hr he'd solved the Mexico border crisis.
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The LAW was delayed in passing so you'd hear some news about it and being a low information voter, you'd not even realize when it did pass. Then, when they do pass it takes a while to have it codified; sometimes a year. Such as the EV car tax credit - which was not figured out for the tax code for almost a year! (I know a senior tax accountant. the tax laws always are a complete mess lacking necessary details which slowly have to be hammered out with the underfunded IRS.)
Then you have delays in the bill it