The world’s most valuable companies keep getting more valuable. Today, Apple briefly surpassed a market cap of $4 trillion, joining the likes of Microsoft and Nvidia, though shares had turned slightly negative as of 10:13 a.m. ET. The iPhone maker, which reports quarterly earnings on Thursday, has been riding high off news of positive sales growth for its iPhone 17.
A report in the Taiwanese press that Intel is attempting to recruit a recently retired top Taiwan Semiconductor executive, Wei-Jen Lo, to lead R&D at Intel’s troubled foundry division may account for the bump in Intel shares Tuesday, one analyst told us.
A synopsis of the report from technology analysis and news outlet TrendForce News notes:
“If confirmed, the move could have significant implications for TSMC and the broader Taiwanese semiconductor industry, especially as Intel aggressively expands its foundry business with support from Washington and backing from tech giants like NVIDIA and SoftBank, the report adds.”
But some skepticism about Lo, 75 years old, returning to Intel, where he worked before joining TSMC in 2004, is also warranted, TrendForce says:
“Industry insiders cited by the report say it is unlikely he would join Intel again, given TSMC’s non-compete rules, Intel’s status as a direct competitor, Lo’s advanced age, health considerations, and his long-standing loyalty to TSMC founder Morris Chang. On the other hand, some industry observers warn that Lo, a U.S. citizen, would be difficult for TSMC to restrict, even with non-compete clauses.”
Intel shares have doubled over the last three months, since the US government took a 10% stake in the company in August. Intel is the best-performing stock in the S&P 500 over that period.
“If confirmed, the move could have significant implications for TSMC and the broader Taiwanese semiconductor industry, especially as Intel aggressively expands its foundry business with support from Washington and backing from tech giants like NVIDIA and SoftBank, the report adds.”
But some skepticism about Lo, 75 years old, returning to Intel, where he worked before joining TSMC in 2004, is also warranted, TrendForce says:
“Industry insiders cited by the report say it is unlikely he would join Intel again, given TSMC’s non-compete rules, Intel’s status as a direct competitor, Lo’s advanced age, health considerations, and his long-standing loyalty to TSMC founder Morris Chang. On the other hand, some industry observers warn that Lo, a U.S. citizen, would be difficult for TSMC to restrict, even with non-compete clauses.”
Intel shares have doubled over the last three months, since the US government took a 10% stake in the company in August. Intel is the best-performing stock in the S&P 500 over that period.
AI computing demand is generating huge revenue streams for hyperscalers, but the market is closely watching the pace of growth, which is slowing.
Nvidia is taking a 2.9% stake in Nokia, as the Finnish mobile networking company has successfully pivoted to AI and data center technology.
In a press release announcing the deal, Nokia said:
“Nokia intends to accelerate development of Nokia’s 5G & 6G RAN software to run on NVIDIA’s architecture and will make investments to drive Nokia’s strategic goal of increasing its presence in the AI & Cloud market with data center aligned networking solutions within its Network Infrastructure business. Nokia and NVIDIA have agreed to collaborate on AI networking solutions and explore opportunities to incorporate Nokia’s data center switching and optical technologies in NVIDIA’s future AI infrastructure architecture.”
Nokia’s stock shot up over 20% on news of the deal.
“Nokia intends to accelerate development of Nokia’s 5G & 6G RAN software to run on NVIDIA’s architecture and will make investments to drive Nokia’s strategic goal of increasing its presence in the AI & Cloud market with data center aligned networking solutions within its Network Infrastructure business. Nokia and NVIDIA have agreed to collaborate on AI networking solutions and explore opportunities to incorporate Nokia’s data center switching and optical technologies in NVIDIA’s future AI infrastructure architecture.”
Nokia’s stock shot up over 20% on news of the deal.
![[News] Intel Reportedly Eyes Retired TSMC Veteran Wei-Jen Lo, Advanced Node Pioneer, to Lead R&D](https://cdn.robinhood.com/static_content/mwphzyq69oso/en-US/assets/files/7tZAIaEvnCSDXsIS5q9JQB_1_siteimgpreview-img.trendforce.com-Tsmc-624x416.jpg)
