The chipmaker will build custom AI chips for Amazon Web Services (AWS) as part of the multibillion-dollar deal. The move expands a years-long tie-up between...
- Intel shares jumped 7% before the bell on Tuesday, as a chip-making deal with Amazon 's cloud business provided a major stamp of approval for its struggling contract manufacturing business.
Intel's stock has plunged nearly 60% this year and has lagged chip firms, including Nvidia and TSMC, as it missed out on an AI-driven boom in chip demand. But "meaningful" revenue from the capital-intensive foundry unit is not expected until 2027, even as expensive investments sap cash flow and draw investor ire.
Swiss financial market regulator FINMA on Tuesday said it had confiscated 12.7 million Swiss francs from private bank Mirabaud & Cie over violations of financial market law and breaches of its money-laundering obligations. FINMA said Geneva-based Mirabaud had not made sufficient checks on customer relationships and transactions linked to a now deceased businessman who was accused of tax evasion.
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