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It is indeed!
Intel’s 15,000 layoffs, citing “margins are too low,” comes five months after the Biden administration’s CHIPS Act gave it an $8.5 billion gift, $11 billion in favorable loans, and $25 billion in tax cuts, on the promise to hire 10,000 people.
https://x.com/loomdoop/status/1819237197473894749
P.s.: if you have an Intel 13th/14th gen chip, especially an i7 or i9, check for BIOS updates and underclock it in order to prevent permanent degradation.
Also PSA: Some of the intel 13th and 14th gen chips can develop corrosion because the materials used in their construction were contaminated/improperly formulated
P.s.: if you have an Intel 13th/14th gen chip, you are a nerd lol
as opposed to gigachads like myself on Alder Lake, right
right
Buying an Intel product new is nerd behaviour soz. I told people about those hybrid CPUs.
These stupid chips are so overvolted out of the factory too, I dropped mine by 150mv and it’s still completely stable and running a lot cooler. It’s like they expected every motherboard manufacturer to use bottom of the barrel vrms or something.
I think if I had one of the affected chips, I’d want it to fail while they’re still replacing them for free. It sounds like the various measures data center people are using are only slowing the degradation, not eliminating it. Maybe I’d wait until it’s clear the issue is not in the replacement chips though.
The high failure rates that have been reported are in situations where the chips are working hard 24/7. I think for most home users, were not going to see the failures for a few years, which is exactly what Intel is counting on by not doing a full recall.
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damn i remember when long ago i felt like trash for using only AMD chipset for my PC builds
who’s the trash nowwwww/???
More like DIPS Act, boom, roasted.
According to NIST (National Institute of Standards and Technology), “Updated July 26, 2024”
CHIPS Incentives application stage: Due diligence
Payments have not been disbursed yet. The money is supposed to be disbursed when the fabs are producing chips, IIRC, and they have barely started moving tools into one of the fabs. The article linked in the X.Com The Everything App post you linked says the payments and loans were announced. One of the big sticking points of the act was the government didn’t want to Foxconn it, so they tied payment to completion. According to NIST, they haven’t paid anyone shit yet.
A bigger chunk of their shit earnings can be blamed on Brandon prohibiting them from selling chips to the largest market in the world.
They are still getting most of the tax cuts and other stuff. Just maybe not the $15 billion for the actual factories, but I also expect them to get a lot of that $$$ in the end. The Biden (or whoever wins in 2024) government can basically do whatever they want at any point.
This is a natural process. Intel’s value has been rising and falling for millions of years. It has nothing to do with human activity.Oh no my grandmother’s inheritance
Funniest outcome of this shit. The dude will now probaly #HODL until the stock goes to zero and Intel declares bankruptcy. This is why WallstreetBets is an irreplaceable subreddit.
I’m OOTL, what did some
nerd do?Yolo’d $700k of his $800k inheritance entirely on Intel like a few hours before it tanked
https://reddit.com/r/wallstreetbets/comments/1ehjuzj/i_bought_700k_worth_of_intel_stock_today/
It’s the perfect foil to other person who did a bunch of “DD”
on why Crowdstrike was overvalued, mere hours before they brought down millions of mission-critical windows machines across the planetOn a good day WSB is random, but on aggregate they tend to bet wrong.
I’m starting a new fund, the “anti-WSB index” (AWBI), we expect big growth over the next quarter.
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Holy fuck is I was Meemaw I would be so astronomically pissed.
I think the nature of inheritance suggests that if you were Meemaw you would be dead, sad to say.
Meemaw’s revenge! She’s back from hell to call you a dipshit for gambling away your inheritance without even getting free drinks at the high roller table.
That dude had “buy a house with cash” money, and he chose the stock market.
lol. lmao, even.
I would come back as a ghost just to terrorize this spoiled brat.
oh yeah these guys are my vibe
good. that’s what you should get for building one of your chip plants on stolen indigenous land and collaborating with apartheid.
-20%
.
It dropped a few points in a day and then halted. It’s not going anywhere, this happens all the time where stocks change a little suddenly and people make a big deal out of it and then it regresses to the mean.
Intel definitely isn’t “going anywhere” but to say that a 10 year low in stock price due to revelations that two generations of chips are ticking time bombs alongside tanking earnings is no biggie seems a bit too “nothing ever happens” pilled
This smells like preparation for a market collapse.
Lol at all the stupid fuckers in WNY who thought manufacturing microprocessors would be a good idea. I told people about the Foxconn debacle in Wisconsin but the delusions are too strong. Same people who think the Bills will win a Superbowl any year.
Tbf Upstate New Yorkers are desperate for anything to help the brain drain. I remember living there when Kodak was on its last legs and it falling was a huge blow to the region.
Since then they’ve been looking for anything from Amazon to this.
literally everywhere in the US says they have a brain drain. what they have is a neoliberal globalized capitalism that turns everyone into fucking peasants again. brain drain is making excuses for capitalism.
I tell them “the soviet union never had brain drain. now drain deez soviet nutz!”
I wish they would learn from their past instead of trying to repeat the company town model. The local Rochester newspaper just did a couple articles about racial tensions arising from Kodak’s discriminatory practices and the redlining that happened in the surrounding Maplewood neighborhood. Even when it was a good city it only applied to white folks.
It looks like they’ve repeated it once again with the U or R now filling in where Kodak left off.
They love local billionaire Tom Golisano too, he’s the only person capable of creating wealth apparently. Being a company town allows them to maintain their bigoted ways. Yeah the majority of population in Rochester is black or Hispanic, but you’d never guess that if you met the staff working at U of R and Paychex.
I put all my life savings on the bills winning the superbowl this year. is this a good idea?
It’s even funnier when you see the trend over the entire company’s history:
And the past year:
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Is AMD gaining?
No, RISC-V rising
Umm its working that’s called economics. You wouldn’t know that. 🤓
- “some gizmo”*
*latest fad
Didn’t intel royally fuck up on some chips recently? I thought I read they’re going to have to recall millions of them and replace them.
Yeah. Their 13th gen and 14th gen CPUs are flawed and quite the number of users are reporting their CPUs are failing after some use, causing them to demand for warranties or for their money back/new chips of an older but more reliable generation. It’s a hot topic rn on pc building communities, lots of people want these CPUs because they’re good but they’re extremely worried of the very real issues they have.
ehh… i’ve never bought an intel chip, but I guess it kinda sucks if you have to switch your whole motherboard because intel messed everything up
after 14k gen news shorting intel was just good business. Why the rest of the market decided to shit the bed i have no idea
Maybe because the foundry is in the entity?
buy the dip!!! /s
i hope intel crashes and burns
CHIPS and Dips
