EU Re-imposes EUR 376.36 Mln Fine On Intel For Anticompetitive Practices For CPUs

The U.S. government has offered Intel Corp. up to $7.865 billion in direct funding for its commercial semiconductor manufacturing projects, which is expected to create thousands of jobs. The latest award, together with a 25% investment tax credit which the firm plans to claim, would support the chip maker's plans to invest more than $100 billion in the U.S.

Intel Corp. has won a long-running court battle in the European Union, where the Court of Justice, Europe's top court, upheld the annulment by the General Court of a 1.06 billion euros fine imposed by the Commission on the chipmaker. The European regulator had alleged an abuse of a dominant position on the part of Intel.

Horizon Robotics, a Chinese developer of artificial intelligence chips used in autonomous driving systems, is seeking to raise as much as HK$5.4 billion or around $696 million in its Hong Kong initial public offering. According to its listing document, Chinese majors Alibaba Group Holding Ltd. and Baidu Inc. are investing in the IPO of the firm, which is backed by tech major Intel Corp.

Chipmaker Intel Corp., which is in the midst of takeover speculation amid its struggling financial performance, rejected an approach from British chip firm Arm Holdings Plc for its product division, Bloomberg reported citing a person with direct knowledge of the matter. Intel replied that the product division is not for sale. On the Nasdaq, Intel shares were gaining around 1.5 percent...

Intel Corp. shares were hit by wider operating loss in its chipmaking unit Intel Foundry for fiscal 2023, and the company's warning that the segment's operating losses are expected to peak in 2024. Intel shares fell more than 4 percent in extended trading on Tuesday on the Nasdaq Stock Exchange, as well as in pre-market activity on Wednesday.

The Biden Administration announced Wednesday that Intel Corp. (INTC) and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms (PMT) for up to $8.5 billion in direct funding to Intel for commercial semiconductor projects under the CHIPS and Science Act.

Intel Corp. (INTC) announced Tuesday that it has agreed to sell an approximately 10% stake in the IMS Nanofabrication business to Taiwan Semiconductor Manufacturing Co. Ltd. or TSMC (TSM).

Gold climbed higher on Thursday amid renewed threats of a tariff war, simmering US-Iran geopolitical tensions, and a softer U.S. jobs data. Front Month Comex Gold for June delivery gained $59.60 (or 1.79%) to $3380.90 per troy ounce. Front Month Comex Silver for June delivery gained 4.70 cents (or 0.13%) to $36.213 today. In a significant development, U.S. President Donald Trump said that, in the coming weeks, he is going to send letters to nations trading with US, setting unilateral tariffs even ahead of the July 9 deadline he had already set for negotiations. Adding to geopolitical tension, the U.S. has begun evacuating non-essential staff from its Baghdad embassy. This move comes after Trump's statement where he said that he felt less confident of a US-Iran nuclear deal. He however had added that US would not allow Iran to have nuclear weapons. Iranian defense minister responded to this saying Iran would attack U.S. bases if there is a conflict. According to data released by the U.S. Commerce Department, producer prices have edged up 0.1 percent for May 2025, compared to forecasts of a 0.2 percent increase. Also, the US Labor Department revealed that the initial jobless claims in the U.S. held steady at 2,48,000 for the first week of June contrary to market expectations of a drop to 2,40,000. Continuing jobless claims jumped by 54,000 to 19,56,000 in the week ending May 31. All these data indicated a soft U.S. labor market amid ongoing economic uncertainty. The U.S. dollar fell to a more than three-year low. In light of these developments, market expectations of a rate cut in September by the U.S. Federal Reserve has now increased.