BALI, Indonesia, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Rivalz Network, aims to transform the AI landscape by introducing the first AI Intel Layer, has raised $9 million in recent funding rounds. This funding marks a pivotal moment for Rivalz as it continues to innovate in AI data and decentralized infrastructure. In addition to its leading investors, Rivalz has garnered support from a diverse group of backers, including Zee Prime, Caballeros, Formless Capital, Dweb3, Mask.io, BitsCrunch, SL2, Momentum6, 4RC, St ...

Core Insights - Karma Automotive and Intel Automotive have announced a collaboration to develop Software Defined Vehicle Architecture (SDVA) aimed at transforming the automotive industry [1][5] - The Karma Kaveya super coupe, expected to launch in 2026, will be the first vehicle built from the ground up using SDVA, with a starting price of approximately $300,000 and up to 1,000 horsepower [2][5] - The partnership aims to assist Tier 1 suppliers and Original Equipment Manufacturers (OEMs) in transitioning to new technologies through business-to-business SDVA solutions [1][5] Company Overview - Karma Automotive is California's first ultra-luxury automaker, focusing on electric and Extended Range Electric Vehicles (E-REV) [4] - The company plans to introduce the 3rd Generation Karma Revero sport sedan in Q4 2024 and the Gyesera four-seater in 2025, alongside the Kaveya super coupe in 2026 [5] - Karma Automotive's dealer network spans North America, Europe, South America, and the Middle East, indicating a broad market presence [5] Technical Insights - SDVA represents a shift from traditional vehicle architecture, which has remained largely unchanged since the invention of the automobile, to a more integrated and efficient system [2][3] - The architecture allows for the consolidation of workloads onto software-defined zonal controllers, improving energy efficiency and reducing the number of electronic control units (ECUs) in vehicles [3] - This approach is inspired by advancements in the Information Technology (IT) industry, which has moved towards high-performance computing systems [2]

Core Viewpoint - Intel has experienced a significant decline in stock price following disappointing earnings results and negative developments, with shares dropping over 26% and currently trading below $20, levels not seen in over a decade [1][3]. Financial Performance - For the quarter ending June 30, 2024, Intel reported revenue down nearly 1% year-over-year, missing forecasts by approximately $150 million [3]. - Non-GAAP earnings came in at 2 cents per share, missing expectations by 8 cents [3]. - Guidance for the current quarter was lowered, with expected revenue between $12.5 billion and $13.5 billion, compared to analyst expectations of $14.4 billion [3][4]. Strategic Developments - Intel has suspended its dividend and announced layoffs affecting 15,000 employees, indicating increased uncertainty regarding its turnaround efforts [4]. - The company is attempting to capitalize on the AI chips trend and expand its chip foundry operations, but recent challenges may hinder these plans [4][6]. Valuation Insights - Despite the stock's drop to sub-$20, it trades around its tangible book value, but other valuation metrics suggest it may still be overvalued [5]. - Analysts project earnings per share (EPS) of only 27 cents for the current year, resulting in a forward price-to-earnings (P/E) multiple of 72.4 [5]. - Expected earnings rebound in 2025 to $1.26 per share implies a valuation of around 15.3 times this forecast, which may not reflect the current uncertainties [5]. Market Sentiment - Investors considering buying Intel at current prices may be misjudging the situation, as further declines could occur due to ongoing pessimism about the company's prospects [7][8]. - The tangible book value may provide some support against further declines, but it is subject to change with potential net losses [8].

Investors are completely writing off the chip giant.Intel's (INTC 5.73%) turnaround was always going to be a drawn-out affair. The company has been making massive investments in manufacturing to catch up to and surpass TSMC in terms of manufacturing technology. The Intel 18A process, set to be ready by the end of the year and scale up throughout 2025 and 2026, is expected to battle the best process nodes TSMC has to offer.Intel is aiming to use its new manufacturing processes to revitalize its PC and server ...

A sign is posted in front of Intel headquarters on August 01, 2024 in Santa Clara, California.Intel has sold its 1.18 million share stake in British chip firm Arm Holdings, according to a regulatory filing, as the California chip designer shores up its balance sheet amid intense competition. The sale, disclosed on Tuesday, likely raised Intel nearly $147 million, based on Arm's average stock price between April and June.Intel had cash and cash equivalents of $11.3 billion, and liabilities of about $32 billi ...

Meme Stocks Overview - Meme stocks are publicly listed companies that gain traction due to increased interest among retail traders on social media platforms like Reddit [1] - These stocks often attract attention through speculative discussions about their price performance [1] Super Micro Computer (SMCI) - SMCI develops and manufactures high-performance server and storage solutions, benefiting from the AI boom [2] - The stock surged due to high demand for bandwidth driven by generative AI but lost nearly 40% in the trailing month due to global monetary policy shifts and tech sector volatility [2] - Shares are trading at 2.05X sales, significantly lower than the prior year's average of 3.16X and the first quarter's peak of 6.23X [3] - Analysts project revenue growth to $26.51 billion in 2024, a 77.4% increase from $14.94 billion in 2023 [3] PayPal (PYPL) - PayPal specializes in digital payments and offers business management solutions, making it a key player in the fintech space [5] - The gig economy, valued at $355 billion in 2021, is expected to grow to $1.86 trillion by 2031, with a CAGR of 16.18%, benefiting PayPal [5] - Shares trade at 2.2X trailing-year revenue, below the past year's average of 2.32X, and analysts project 14.8% revenue growth to $31.94 billion in fiscal 2024 [6] Intel (INTC) - Intel is considered one of the riskiest meme stocks due to its disappointing Q2 2024 earnings, with EPS of 2 cents missing the expected 10 cents and revenue of $12.83 billion falling short of the $12.92 billion consensus [7] - Compared to Q2 2023, Intel's performance declined significantly, with EPS dropping from 13 cents to 2 cents and revenue decreasing from $12.95 billion to $12.83 billion [7] - INTC stock is down 44% in the trailing month, though the decline slowed to 4.5% in the past five sessions [8] - Analysts anticipate a down year in sales growth for fiscal 2024, but the most optimistic projections for fiscal 2025 target revenue of $60.49 billion, up from $54.23 billion in 2023 [8]

Exciting shifts are happening among AI companies. See why a couple of top-notch AI stocks are must-buy investment opportunities right now.Artificial intelligence (AI) stocks were on a roll for a while, but they have run into some skeptical market makers lately. As a result, some top-notch AI experts are on fire sale right now, and I expect them to come back strong in the long run.Read on to see why semiconductor company Intel (INTC 3.80%) and voice-recognition expert SoundHound AI (SOUN 1.16%) look like no- ...

As a tech reporter going back over 40 years, it’s incredible to be writing this.But can Intel (NASDAQ:INTC) survive?What was once the world’s dominant semiconductor power is a shell of its former self. It’s all there in the second quarter earnings report, which led it to lose 43% of its value in just one month.The loss of $1.6 billion, 38 cents per share, is just the headline. Now nearly 20,000 employees are heading for the exits. The dividend has also been suspended. Shareholders are suing, claiming they w ...

Even if Intel survives, it will take a long time to turn around.According to a Wall Street Journal that appeared in print this morning, Intel (INTC -2.23%) stock is too big to fail. Based on trading today, investors aren't so sure about that. Shares of the once-upon-a-time semiconductor king slipped 2% through 1:45 p.m. ET on Monday, extending an almost uninterrupted slide in share price since the company's disastrous second-quarter earnings report that has cost the stock 37% in just a little over a week an ...

Intel CEO Patrick Gelsinger Alex Wong/Getty Images News Performance Assessment As familiar readers would know, I always start my follow-up updates with a performance assessment. Sometimes, I get things very wrong. But that is not the case here with Intel (NASDAQ:INTC). My 'Sell' view has played out rather well, generating an active return of +30.92% so far vs the S&P500 (SPY) (SPX): Performance since Author's Last Article on Intel (Seeking Alpha, Author's Last Article on Intel) Thesis after Q2 FY24 Int ...