Intel is separating its ailing foundry business from the main company

Intel is turning its foundry business, which manufactures chips for other companies, into an independent subsidiary. The company has revealed its plan in a note to employees from its CEO Pat Gelsinger, published over a month after Intel disclosed that it's cutting 15 percent of its workforce. Intel is laying off more than 15,000 people as part of its $10 billion cost-reduction plan to regain financial stability following a second-quarter net loss of $1.6 billion. Gelsinger explained in his new memo that turning the foundry into a subsidiary "will unlock important benefits," particularly the ability to evaluate and take external funding directly. 

Gelsinger said that there will be no changes to the foundry's leadership, but the subsidiary will establish its own operating board with independent directors to govern it. According to CNBC, Intel is even considering making the foundry a separate publicly traded company. Intel is in the midst of modernizing its existing fabs and building new ones for its foundry business, which is costing the company billions of dollars, in an effort to catch up to its chipmaking rivals like TSMC and Samsung. The company has reportedly spent around $25 billion a year on its foundry business over the past two years, but that has yet to translate into profit. 

In April, the company revealed in a presentation to investors that the business posted $7 billion in operating losses for 2023, even larger than the $5.2 billion in losses that it incurred the previous year. It had a revenue of $18.9 billion, down 31 percent from its 2022 revenue of $27.49 billion. Gelsinger warned investors at the time that Intel expects its foundry business' operating loss for 2024 to be even bigger and that it doesn't expect to break even until 2027. The foundry's finances aren't the division's only problem: Its next-gen manufacturing process referred to as "18A" reportedly failed crucial tests to prove that it's ready to be used for mass production. 

In addition to announcing that the foundry business will become a subsidiary, Gelsinger also disclosed in the memo that Intel will be selling part of its stake in Altera, another chipmaker that it purchased for $16.7 billion in 2015. 

This article originally appeared on Engadget at https://www.engadget.com/general/intel-is-separating-its-ailing-foundry-business-from-the-main-company-110043046.html?src=rss

Lotus Unveils Theory 1: The Electric Beast with 1000 PS

Lotus Theory 1

In the rapidly evolving landscape of the automotive industry, Lotus has emerged as a trailblazer with its groundbreaking concept car, the Theory 1. This innovative vehicle embodies the future of intelligent performance vehicles, seamlessly integrating innovative technology with a human-centric design philosophy. The Theory 1 is a testament to Lotus’ commitment to pushing the boundaries […]

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Edge AI vs Cloud AI what are the differences and why they matter

Edge AI vs Cloud AI what are the differences

Artificial Intelligence (AI) has transformed industries by enabling systems to make smart decisions, process vast amounts of data, and even predict outcomes in real-time. Two primary paradigms in AI deployment are Edge AI and Cloud AI. While both approaches offer significant advantages, their differences are essential to understand when deciding which one best suits your […]

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ONE UI 6.1.1 is Here for S23 Ultra: New Features You Need to See

ONE UI 6.1.1

Samsung has recently released the highly anticipated One UI 6.1.1 update for the Galaxy S23 Ultra, bringing a wealth of exciting new features and enhancements to the flagship device. This update focuses on leveraging the power of artificial intelligence (AI) to transform the way you interact with your smartphone, making it more intuitive, efficient, and […]

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Zapier Automation Beginners Guide 2024

Zapier is a powerful automation platform that seamlessly connects a wide array of applications, allowing you to streamline workflows and boost productivity. This guide by Manizha & Ryan is designed to introduce you to the extensive capabilities of Zapier, empowering you to automate repetitive tasks and optimize your daily operations. At its core, Zapier serves […]

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Top 5 Personal Grooming Products Every Gentleman Needs In His Arsenal

In today’s superficial and materialistic world,  nothing represents who we are better than a well-groomed face, hair, and body. Taking care of yourself, and presenting your best face forward to the world always seems to cultivate good relationships, and also leads to a lot of doors opening up! As hectic as life can get, it’s imperative to take some time off to invest in a good skincare routine, or a quick morning grooming session. These simple self-care activities not only make you look better but also feel better. We’ve curated a collection of must-have self-care and grooming products that we feel are essentials for the gentlemen out there.

1. Rotating Nail Clipper

Named the Rotating Nail Clipper, this unique little product protects your wrist, preventing it from twisting and getting hurt if you trim your nails. The nail clipper helps you cut your nails skillfully and efficiently, ensuring you don’t need to twist or bend your wrist much to capture the perfect angle for nail clipping.

Click Here to Buy Now: $69

Why is it noteworthy?

The Rotating Nail Clipper has a pretty practical design which ensures you don’t need to unnecessarily bend your wrist while trimming your nails. The clipper is an ergonomic tool crafted from high-carbon stainless steel and anodized aluminum alloy. The tool has a minimalist, subtle, and functional design ethos.

What we like

  • Sleek and easy-to-use design
  • Comes in a bunch of different colors

What we dislike

  • Hefty price tag

2. Aroma Fragrance Pin

Named the Aroma Fragrance Pin, this compact little pin ensures you have a pleasant aroma around you always. The pin includes cotton with an essential oil of your choice, and it retains this strong and lovely fragrance around you. The pin is perfect for people who travel and commute around a lot.

Click Here to Buy Now: $49

Why is it noteworthy?

The Aroma Fragrance Pin creates an individual fragrance bubble around you, and the smell can be topped up once it fades away. The pin is also great for people with sensitive noses who get affected by the aerosol particles in typical perfumes.

What we like

  • It looks like a stylish button-esque accessory with loads of color options

What we dislike

  • The oil may not last long, so you need to try a few to figure out which one is long-lasting

3. Single Edge Pro + Razor Stand

Say hello to the Supply’s Single Edge Pro + Razor Stand shaving set. This sleek and clean design takes your shaving to a whole new level, promoting single-blade shaving. It has a minimal-esque design with a discreet Shave Dial. You can use the dial to customize your shaving, to the way you like it. It offers easy access to 30 shave settings.

Why is it noteworthy?

The razor has 6 primary settings which support 30 micro-settings altogether. You can achieve the shave you want, by setting the preferences and specifications you have. It has a 0.7mm difference between settings 1 and 6, and the 30 micro-settings differ by hundreds of a millimeter

What we like

  • Helps you achieve a truly precise shave
  • You can customize your shave however you want

What we dislike

  • It has a narrower hold angle range
  • The adjustment dial rattles around a bit

4. Legacy Precision Nail File

Called the Legacy Precision Nail File, this compact file was designed by Yoshida Yasuri in Japan using meticulous craftsmanship. The file is created via a complex three-stage sharpening process, ensuring it isn’t dull, nor does it feature any sharp edges like conventional factory-made nail files.

Click Here to Buy Now: $29

Why is it noteworthy?

The thick stainless steel plate is shaped in all directions six times, on both sides of the nail file, to ensure it is fine, durable, and smooth.

What we like

  • It has lifelong durability
  • Paired it a handmade leather sheath

What we dislike

  • The files were made using intricate craftsmanship and premium materials, so it has a higher price tag compared to regular alternatives

5. niostem

The niostem smart hair loss wearable is designed to reverse your hair loss in 6 months. According to the company, the wearable’s effectiveness was proven in 6 months in a human trial. Hair density increased by 19.3% on average, and hair thickness increased by 9.1% on average. It not only prevents hair loss but also reactivates dormant stem cells.

Why is it noteworthy?

The niostem restarts your hair’s regular growth process and regrows hair. It utilizes stem cell reactivation technology, which reactivates hair growth. It also makes adjustments based on your skin.

What we like

  • The device is quite easy to wear and covers your whole scalp
  • Doesnt mess with your hormones, and has no negative side effects

What we dislike

  • Even though it has no negative side effects, it is a wearable and should be used carefully with sensitive skin

The post Top 5 Personal Grooming Products Every Gentleman Needs In His Arsenal first appeared on Yanko Design.

iOS 18 Just Dropped: Here’s How to Record & Transcribe Calls

iOS 18

Apple’s iOS 18 update brings an innovative feature to the native Phone app: the ability to record and transcribe phone calls with ease. This new functionality streamlines the process of capturing important conversations and ensures compliance with legal standards by providing mandatory notifications to all parties involved. The video below from Jacob’s Quick Tips shows […]

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How to use ChatGPT o1-preview and o1-mini for AI content creation

How to use ChatGPT o1 for content creation

Struggling with content creation can be incredibly frustrating, especially when your tools don’t quite meet your expectations. But what if there was a solution that could not only meet but exceed your needs? OpenAI’s new 01 series models, the o1-preview and o1-mini, offer just that. By emphasizing prompt chaining and iterative reasoning, these models provide […]

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Navigating the Apple Watch Lineup: Your 2024 Guide

Apple offers three distinct Apple Watch models to cater to various user needs and preferences: the Apple Watch Series 10, Apple Watch Ultra 2, and Apple Watch SE. Each model comes with its own set of features, design elements, and target audience. This comprehensive guide will help you navigate through the differences between these models […]

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Local open source AI Assistant with two-way voice communication and privacy

Verbi AI Assistant privacy local install open source

Have you ever wondered if you could have a voice assistant that respects your privacy and doesn’t rely on cloud services? What if you could set up such an assistant right on your own computer? With the project Verbi, this is not only possible but also surprisingly straightforward. In this guide, Prompt Engineering will show […]

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