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Advertisement Intel's CEO departure reignited debate on splitting its factories from the company. Intel's fabs are costly, but they're also considered vital for US national security. CHIPS Act funding requires Intel to maintain majority control of its foundry. One central question has been hanging over Intel for months: Should the 56-year-old Silicon Valley legend separate its chip factories, or fabs, from the rest of the company? Intel's departing CEO, Pat Gelsinger, has opposed that strategy. As a longtime champion of the company's chip manufacturing efforts, he was reluctant to split it. Related Video How to invest in AI stocks The company has taken some steps to look into this strategy. Bloomberg reported in August that Intel had hired bankers to help consider several options, including splitting off the fabs from the rest of Intel. The company also announced in September that it would establish its Foundry business as a separate subsidiary within the company. Gelsinger's departure from the company, announced Monday, has reopened the question, although the calculus is more complicated than simple dollars and cents. Splitting the fabs from the rest of its business could help Intel improve its balance sheet. It likely won't be easy since Intel was awarded $7.9 billion in CHIPS and Science Act funding, and it's required to maintain majority control of its foundries. Advertisement Intel declined to comment for this story. A breakup could make Intel more competitive Politically, fabs are important to Intel's place in the American economy and allow the US to reduce dependence on foreign manufacturers. At the same time, they drag down the company's balance sheet. Intel's foundry , the line of business that manufactures chips, has posted losses for years. Fabs are immensely hard work. They're expensive to build and operate, and they require a level of precision beyond most other types of manufacturing. Advertisement Intel could benefit from a split, and the company maintains meaningful market share in its computing and traditional (not AI) data center businesses. Amid the broader CEO search, Intel also elevated executive Michelle Johnston Holthaus to CEO of Intel Products and the company's co-CEO. Analysts said this could better set up a split. Regardless, analysts said finding new leadership for the fabs will be challenging. "The choice for any new CEO would seem to center on what to do with the fabs," Bernstein analysts wrote in a note to investors after the announcement of Gelsinger's departure. Advertisement On one hand, the fabs are "deadweight" for Intel, the Bernstein analysts wrote. On the other hand, "scrapping them would also be fraught with difficulties around the product road map, outsourcing strategy, CHIPS Act and political navigation, etc. There don't seem to be any easy answers here, so whoever winds up filling the slot looks in for a tough ride," the analysts continued. Intel's competitors and contemporaries are avoiding the hassle of owning and operating a fab. The world's leading chip design firm, Nvidia, outsources all its manufacturing. Its runner-up, AMD, experienced similar woes when it owned fabs, eventually spinning them out in 2009. Intel has also outsourced some chip manufacturing to rival TSMC in recent years — which sends a negative signal to the market about its own fabs. Advertisement Intel is getting CHIPS Act funding Ownership of the fabs and CHIPS Act funding are highly intertwined. Intel must retain majority control of the foundry to continue receiving CHIPS Act funding and benefits, a November regulatory filing said. Related stories Intel could separate its foundry business while maintaining majority control, said Dan Newman, CEO of The Futurum Group. Still, the CHIPS Act remains key to Intel's future. "If you add it all up, it equates to roughly $40 billion in loans, tax exemptions, and grants — so quite significant," said Logan Purk, a senior research analyst at Edward Jones. Advertisement "Only a small slice of the commitment has come, though," he continued. Intel's fabs need more customers Intel is attempting to move beyond manufacturing its own chips to becoming a contract manufacturer. Amazon has already signed on as a customer. Though bringing in more manufacturing customers could mean more revenue, it first requires more investment. There's a more ephemeral reason Intel might want separation between its Foundry and its chip design businesses, too. Foundries regularly deal with many competing clients. Advertisement "One of the big concerns for the fabless designers is any sort of information leakage," Newman said. "The products department competes with many potential clients of the foundry. You want separation," he added. It was once rumored that a third party might buy Intel . Analysts have balked at the prospect for political and financial reasons, particularly since running the fabs is a major challenge.AP Trending SummaryBrief at 4:09 p.m. ESTLOTR: The Hunt for Gollum Writers Want Viggo Mortensen Back as Aragorn By The “brain trust” behind film trilogy and the upcoming, live-action would like back as Aragorn for the movie. Speaking to The Playlist in an upcoming interview, — who was one of the writers on the original Lord of the Rings live-action trilogy and worked with Peter Jackson and Fran Walsh on the franchise as a whole — spoke about the upcoming live-action film and revealed that she, Jackson, and Walsh would love Viggo Mortensen to return if he’d be up for it. “Honestly, that’s entirely going to be up to Viggo, collaboratively and we are at a very early stage,” Boyens said. “I’ve spoken to Viggo, Andy [Serkis] has spoken to him, Peter [Jackson] has spoken to him, we’ve all spoken to each other and honestly, I cannot imagine anyone else playing Aragorn, but it will be completely and entirely up to Viggo.” The Hunt for Gollum wouldn’t use A.I. to de-age Mortensen Boyens also briefly spoke about the movie, which takes place during The Fellowship of the Ring, right before Frodo leaves the Shire for Rivendell. The film will follow Aragorn as he’s tasked by Gandalf to find Gollum before he can share any sensitive information about the One Ring with anyone and have it get back to Sauron. Despite Mortensen being older than he was during his time as Aragorn, Boyens said there would be no use of A.I. technology in de-aging him. “I know Andy wants to work with him, but also, we don’t see this as like, using A.I. [technology], this is about a digital make-up, and whether Viggo does it or will entirely depends on how good the script is,” said Boyens. “And he doesn’t have a script yet. So to be fair to Viggo, let’s see if we write a good enough role and that he can find enough in it to see that it’s a performance he wants to take on. After that, it’ll be between Viggo and Andy of how that is achieved.” Should Mortensen not want to reprise his role, Boyens said that they would still want him “heavily involved” in the project, but stressed that any decision on that front is still a few months away from having to be made. “I suspect if he decides he doesn’t want to do it we would still want him to be heavily involved, like how do we hand this character off,” Boyens said. “But literally that decision is several, several months away. He’s got to read the script first and that’s exactly what I’m going to be working on when I get out of this interview [laughs].” (Source: ) Anthony Nash has been writing about games and the gaming industry for nearly a decade. When he’s not writing about games, he’s usually playing them. You can find him on Twitter talking about games or sports at @_anthonynash. Share article
Arkansas WR Andrew Armstrong declares for NFL draft, skipping bowlPolice arrested a 26-year-old man on Monday in the Manhattan killing of UnitedHealthcare’s CEO after they say a Pennsylvania McDonald's worker alerted authorities to a customer who resembled the suspected gunman. The suspect, identified by police as Luigi Nicholas Mangione, had a gun believed to be the one used in Wednesday’s attack on Brian Thompson , as well as writings expressing anger at corporate America, police said. Here are some of the latest developments in the ongoing investigation: Mangione was taken into custody at around 9:15 a.m. after police received a tip that he was eating at a McDonald’s in Altoona, Pennsylvania, about 85 miles (137 kilometers) east of Pittsburgh, police said. Mangione was being held in Pennsylvania on gun charges and will eventually be extradited to New York to face charges in connection with Thompson’s death, said NYPD Chief of Detectives Joseph Kenny. In addition to a three-page, handwritten document that suggests he harbored “ill will toward corporate America,” Kenny said Mangione also had a ghost gun , a type of weapon that can be assembled at home and is difficult to trace. Officers questioned Mangione, who was acting suspiciously and carrying multiple fraudulent IDs, as well as a U.S. passport, New York Police Commissioner Jessica Tisch said at a news conference. Officers also found a suppressor, “consistent with the weapon used in the murder,” the commissioner said. He had clothing and a mask similar to those worn by the shooter and a fraudulent New Jersey ID matching one the suspect used to check into a New York City hostel before the shooting, Tisch said. Kenny said Mangione was born and raised in Maryland, has ties to San Francisco and that his last known address is in Honolulu, Hawaii. Mangione, who was valedictorian of his Maryland prep school, earned undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a university spokesman told The Associated Press on Monday. He learned to code in high school and helped start a club at Penn for people interested in gaming and game design, according to a 2018 story in Penn Today, a campus publication. His social media posts also suggest that he belonged to the fraternity Phi Kappa Psi. They also show him taking part in a 2019 program at Stanford University, and in photos with family and friends at the Jersey Shore and in Hawaii, San Diego, Puerto Rico, and other destinations. The Gilman School, from which Mangione graduated in 2016, is one of Baltimore’s elite prep schools. Some of the city’s wealthiest and most prominent people, including Orioles legend Cal Ripken Jr., have had children attend the school. Its alumni include sportswriter Frank Deford and former Arizona Gov. Fife Symington. In his valedictory speech, Luigi Mangione described his classmates’ “incredible courage to explore the unknown and try new things,” according to a post on the school website. He praised their collective inventiveness and pioneering mindset. Mangione comes from a prominent Maryland family. His grandfather Nick Mangione, who died in 2008, was a successful real estate developer. One of his best-known projects was Turf Valley Resort, a sprawling luxury retreat and conference center outside Baltimore that he purchased in 1978. The father of 10 children, Nick Mangione prepared his five sons — including Luigi Mangione’s father, Louis Mangione — to help manage the family business, according to a 2003 Washington Post report. The Mangione family also purchased Hayfields Country Club north of Baltimore in 1986. On Monday, Baltimore County police officers blocked off an entrance to the property, which public records link to Luigi Mangione’s parents. A swarm of reporters and photographers gathered outside the entrance. Luigi Mangione is one of 37 grandchildren of Nick Mangione, according to his obituary. Luigi Mangione's grandparents donated to charities through the Mangione Family Foundation, according to a statement from Loyola University commemorating Nick Mangione’s wife’s death in 2023. They donated to various causes ranging from Catholic organizations to colleges and the arts. One of Luigi Mangione’s cousins is Republican Maryland state legislator Nino Mangione. A spokesman for the lawmaker's office confirmed the relationship Monday. Police said the person who killed Thompson left a hostel on Manhattan's Upper West Side at 5:41 a.m. on Wednesday. Just 11 minutes later, he was seen on surveillance video walking back and forth in front of the New York Hilton Midtown, wearing a distinctive backpack. At 6:44 a.m., he shot Thompson at a side entrance to the hotel, fled on foot, then climbed aboard a bicycle and within four minutes had entered Central Park. Another security camera recorded the gunman leaving the park near the American Museum of Natural History at 6:56 a.m. still on the bicycle but without the backpack. After getting in a taxi, he headed north to a bus terminal near the George Washington Bridge, arriving at around 7:30 a.m. From there, the trail of video evidence runs cold. Police have not located video of the suspected shooter exiting the building, leading them to believe he likely took a bus out of town. Police said they are still investigating the path the suspect took to Pennsylvania. “This just happened this morning," Kenny said. "We’ll be working, backtracking his steps from New York to Altoona, Pennsylvania,” Kenny said. Associated Press reporters Lea Skene in Baltimore and Cedar Attanasio in New York contributed to this report. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest local business news delivered FREE to your inbox weekly.Ontario First Nations mull next steps on child welfare amid various legal opinions
A Surprising Use For A Leveraged, Single-Stock ETFLOS ANGELES, Dec. 03, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Dentsply Sirona, Inc. ("Dentsply" or the "Company") (NASDAQ: XRAY) investors of a class action representing investors that bought securities between December 1, 2022, and November 6, 2024 , inclusive (the "Class Period"). Dentsply investors have until January 27, 2025 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. Portnoy , by phone 310-692-8883 or email : lesley@portnoylaw.com , to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses. The lawsuit, filed in the U.S. District Court for the Southern District of Florida, brings claims under sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") on behalf of a class comprising individuals who purchased Dentsply common stock between December 1, 2022, and November 6, 2024 (the "Class Period") and suffered damages as a result (the "Class"). The Complaint alleges that during the Class Period, Defendants made materially false and misleading statements and failed to disclose significant negative information about the Company’s operations and future prospects. Specifically, it is claimed that Defendants did not inform investors that: (1) the Company’s Byte aligners had caused severe injuries to patients over several years; (2) the Company had not reported these injuries to the U.S. Food and Drug Administration (FDA); and (3) the financial value attributed to the Byte aligners was significantly overstated, among other issues. When the truth came to light, the Complaint states that Dentsply’s stock price dropped by $6.72 per share, a decline of more than 28%, closing at $17.26 per share on November 7, 2024, resulting in losses for investors. Please visit our website to review more information and submit your transaction information. The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes. Lesley F. Portnoy, Esq. Admitted CA and NY Bar lesley@portnoylaw.com 310-692-8883 www.portnoylaw.com Attorney Advertising
The mother of an Australian teenage model who was on an extended break in Bali has spoken of the heartbreak of losing her son “too soon” while he holidayed in Bali. Aston Looker, 18, a former student at the prestigious Sydney school St Josephs College in Hunters Hill, was found unresponsive in a swimming pool at a residential complex on the popular Indonesian island. News.com.au understands that Mr Looker, whose cause of death has not been released, was found floating in the pool of the residential complex in the Balinese village of Mengwi by a resident of the property. The unnamed resident who found Mr Looker on August 22 allegedly called security to assist with the unresponsive teenager however he was unable to be revived. Taking to social media, Mr Looker’s distraught mother, Sydney designer Amanda Lennon, said she misses her son “every day, every hour, every minute and every second,” and that he is in the “arms of angels now”. “My supermodel son is in heaven we love you forever,” Ms Lennon wrote to her 10k followers on Instagram. “We love your cheeky personality and amazing looks but most of all you humour. “Your mum will never ever forget you my favourite person in the universe. Aston you are gone too soon and mourning your death that was too soon.” Do you know more or have a story? Email tips@news.com.au In a statement sent to news.com.au, the Department of Foreign Affairs confirmed Mr Looker’s death which occurred in August. “The Department of Foreign Affairs and Trade is providing consular assistance to the family of an Australian man who died in Bali,” the statement read. “We offer our deepest condolences to the family.” Family friend Victoria Montano posted about the death of Mr Looker, saying the 18-year-old was a “wasted life” and “one taken too soon”. “Asty was a complete juxtaposition - visually, a perfect face a jaw line that looked as if it was chiselled from marble, broad shoulders courtesy of countless hours of surfing,” Ms Montano posted on her Instagram account. “It was his vulnerability that drew you in. His sensitivity. His creative mind which no doubt worked away all day at a million miles an hour. “He wore his heart on his sleeve. On the occasions that we had time for a deeper conversation I always noted that he was able to express himself unlike any other male I knew. Asty was textured - he had depth. “This juxtaposition of masculinity and vulnerability was capped off by his mother Amanda’s favourite thing about him. A finely tuned perfectly timed sense of humour. The ability to be witty and humble all at once. Not many could make you laugh like this young man.” News.com.au has contacted Ms Lennon for comment.
Workspace as a Service Market Detailed Strategies, Competitive Landscaping and Developments for next 5 yearsNEW YORK--(BUSINESS WIRE)--Dec 4, 2024-- Uniswap Labs, the leader in decentralized finance (DeFi), is making it easier for institutional firms to access DeFi through its collaboration with Fireblocks, a digital asset operations and payments platform trusted by 2,000 clients globally. Through Fireblocks, asset managers, hedge funds, and other financial firms can access Uniswap Protocol’s liquidity and advanced DeFi trading features. “We’re thrilled to bring DeFi native capabilities that meet our clients' demand for secure, scalable access to deeper liquidity,” said Michael Shaulov, CEO of Fireblocks. “We see increasing appetite for DeFi solutions among financial institutions, and we’re excited to see more of our clients diversify their digital assets portfolio with Uniswap’s Trading API.” Direct to DeFi The Uniswap Trading API is developed and maintained by Uniswap Labs, the US-based team that builds some of the most used blockchain infrastructure and apps. The collaboration gives Fireblocks’ clients the ability to go direct to DeFi and brings advanced DeFi trading features to TradFi. Its key features include: Bringing DeFi Innovation to TradFi Institutions that choose to go direct to DeFi can also configure the API to their business operations, allowing funds to flow directly to designated wallets for better accounting and transparency. To learn more visit https://hub.uniswap.org About Uniswap Labs: Uniswap Labs is a software company founded in 2018 by Hayden Adams, the company’s CEO, who invented the Uniswap Protocol, a peer-to-peer system for swapping digital assets that has processed $2.4T in volume since its founding. Uniswap Labs builds some of the most widely adopted DeFi products including a self-custody mobile wallet, an API for professional market players and a web interface. About Fireblocks: Fireblocks is an easy-to-use platform to create new blockchain-based products, and manage day-to-day digital asset operations. Exchanges, banks, PSPs, lending desks, custodians, trading desks, and hedge funds can securely scale their digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves thousands of organizations in the financial, payments, and web3 space, has secured the transfer of over $6 trillion in digital assets and has a unique insurance policy that covers assets in storage and transit. Find out more at www.fireblocks.com View source version on businesswire.com : https://www.businesswire.com/news/home/20241204889966/en/ Media@uniswap.org KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT BLOCKCHAIN TECHNOLOGY CRYPTOCURRENCY ASSET MANAGEMENT DIGITAL CASH MANAGEMENT/DIGITAL ASSETS SOURCE: Uniswap Labs Copyright Business Wire 2024. PUB: 12/04/2024 03:00 PM/DISC: 12/04/2024 03:02 PM http://www.businesswire.com/news/home/20241204889966/en
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