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Shares of Intel Corporation (NASDAQ:INTC) rose over 8% in early morning trading on Monday on news that incoming CEO Lip-Bu Tan has big plans to turn around the ailing chipmaker, including restructuring the company’s approach to AI, resurrecting its manufacturing operations, and eyeing cuts to what Tan views as a “slow-moving and bloated middle management layer,” according to a Reuters report. Tan said he’ll need to make “tough decisions” when he takes Intel’s helm on Tuesday, after the company posted $19 billion in annual losses in 2024. Tan’s appointment comes three months after the company ousted former CEO Pat Gelsinger, as it struggled after missing out on the generative artificial intelligence boom and losing market share to Nvidia and AMD. One problem with Gelsinger’s leadership, a semiconductor industry expert told Reuters, was that Gelsinger was “too nice” and did not want to “fire a bunch of middle management in the way they needed to.” The Reuters report also said Intel could have architecture ready for an AI chip by 2027, and would plan to release a new version of it each subsequent year. This would be a big coup for Intel, which is lagging behind Nvidia and Broadcom (AVGO) in the AI hardware market. In the past several quarters, Intel has lost market share in data centers and PCs, and lost billions in its manufacturing business. Tan also plans to restart production of chips that power AI servers, and expand beyond servers into software, robotics, and AI foundation models, per Reuters. Tan’s appointment comes amid ongoing reports that Broadcom and Taiwan Semiconductor Manufacturing Co. (TSMC) are among several investors in talks to divide the ailing chipmakers business into two parts, spinning out its chip-design and marketing business and its manufacturing arm. However, Tan has indicated he wont split up the company. Tan was a member of Intel’s board until he resigned last August. He spent a decade as CEO of Cadence Design Systems, an Intel supplier and chip-design software company, where he doubled revenue and sent the stock price soaring.
Category:
E-Commerce
Bumble rolled out a handful of new safety features on Monday, including ID verification, in an attempt to draw in a new class of users who are focused on safety. ID verification requests a government-issued ID to authenticate the user’s age and name and then adds a badge indicating they are who they say they are on their profile. Users can then filter profiles by both photo verification and ID verification. ID verification is now available in 11 markets, including the U.S., Canada, and Mexico, with plans to expand further. Another safety-focused feature, Review Before You Send, addresses the messaging section, where users often receive inappropriate content. Originally launched for the Compliments feature, it prompts users to revise flagged messages before theyre sent. In addition, the company is launching a new “Share Date” feature that lets users share details about their dates with selected contacts. The safety efforts could help Bumble bring users to its namesake dating app at a time when the broader dating industry is dealing with post-COVID slumps, generational changes in dating behavior, and AI making it harder than ever to tell who is real or fake. Bumble, whose founder Whitney Wolfe Herd is back in the helm after leaving the post a little over a year ago, is pushing to revitalize the dating and social connection company. Bumble reported a 3.8% decline in quarterly app revenue in its most recent earnings report. Bumble’s biggest rival Match Group is also feeling the pressure. The company, which owns Hinge, Tinder, and other star dating apps, recently swapped out chief executives. The company’s new leader, Spencer Rascoff, sent employees a note last week that called for increased focus on product and user experience. Rascoff said that going forward, users need to be at the core of every choice. Every product decision, policy, and innovation must be guided by their experience and outcomes, he said. Trust is the foundation of real connections, and we are committed to rebuilding it with urgency, accountability, and an unwavering focus on the user.
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E-Commerce
More than a year after her viral project was shut down, TikToks Tunnel Girl has officially been given the green light to resume digging a massive tunnel beneath her home. On her TikTok account @engineer.everything, the womanwho identifies herself only as Kalahas built a following of over 657,000 by documenting her ambitious, off-the-books tunnel project in Herndon, Virginia. Despite the handle, Kala has no formal engineering background; she began digging in 2022 as a hobby. While many viewers were fascinated by her underground progress, others questioned the legality of the endeavor. Are we are we allowed to build tunnels? one commenter asked under Kalas one-year anniversary recap video. The answer, as Kala eventually discovered, is nonot without proper permits. After nearly two years of work, her project was shut down in January 2024. @engineer.everything Should I go deeper? #engineering #minecraft #secrettunnel #construction #mining #diy Beautiful Paradise – Aga Alamsyah “They did give me a stop work order and are requiring an immediate evaluation by a professional engineer. Fortunately, contrary to rumors here, it is constructed entirely below the slab of my house and it shouldn’t be too hard to get the permits and approval,” she explained in a TikTok video posted shortly after. @engineer.everything Replying to @dogs.bestfriend Sadly yes, but we are working it out. #engineering #mining #tunnel #permits #construction Suspenseful and tense orchestra(1318015) – SoLaTiDo Turns out, she was right. The permits have now been approved, and the tunnel is officially back in progress. A video posted last week shows Kala receiving a phone call and unrolling stamped construction plans. You have permits now, so clearly you did a good job!” one commenter wrote. Another added: Digging is one thing, but navigating a complex permitting process after the work has been done is nearly miraculous. If you’re inspired to dig your own tunnel, dont expect the process to be easy. “I’ve had to go and get a lot of engineering certifications, a lot of tests, and provide a lot of documentation and provide a lot of calculations and information for the permit process,” Kala told the news station WUSA9. The tunnel system currently extends 22 feet below ground with a 30-foot entrance below her house on her property. Where does it lead? Nowhereyet. “The permits that I submitted for only goes about where I wrapped up right now,” Kala told WUSA9. “My permits have a note that [the tunnel] may be expanded in the future, of course, I’ll have to go through the engineering process, the permit process, but I would like to potentially go a little bit further.” Kala hopes to finish the tunnel within the next six months. The end goal? A self-contained underground shelter just outside the footprint of her homebecause, well, why not?
Category:
E-Commerce
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