SoftBank to invest in Intel; Google announces nuclear reactor site; Foxconn bets big on the AI boom
The Japanese SoftBank Group announced it will invest $2 billion in Intel, with the update coming as its founder Masayoshi Son tries to align himself with U.S. President Donald Trump. Separately, media reports indicated that the U.S. government could be considering taking a 10% stake in Intel, which has struggled to retain its competitive edge in the Generative AI era. The American chipmaker has fallen far behind rival Nvidia, and continues to face operational challenges in spite of CEO Lip-Bu Tan taking over the company earlier this year. SoftBank is set to pay $23 per share of Intel common stock.
Though Trump recently called on Tan to resign, citing conflicts of interest, he appeared to change his opinion after meeting the Intel CEO in person. SoftBank is also set to play a major role in the $500-billion Stargate project to develop AI infrastructure in the U.S. with Oracle and OpenAI.
Google announces nuclear reactor site
Google and Kairos Power have chosen the U.S. state of Tennessee in order to establish a nuclear power plant that is slated to supply electricity to Google data centres in the U.S. southeast region from 2030. The deal is intended to support 500 megawatts of advanced nuclear capacity, or about enough power for 350,000 homes. The venture is significant as it is a landmark power purchase agreement for 'generation IV nuclear power,' which is touted as being safer and more sustainable.
The reactor in Tennessee is the first to be deployed under Google's corporate agreement as the company looks to buy nuclear energy from small modular reactors. U.S. Energy Secretary Chris Wright said that the Department of Energy had assisted Kairos Power with the project, and hailed 'the next American nuclear renaissance.'
Foxconn bets big on the AI boom
Foxconn was for several years known as the Taiwanese electronics giant that made its name through the assembly of millions of Apple iPhones, but it is now shifting to Generative AI. For the first time in the second quarter, the company's revenue from making AI servers and related products was more than that of smart consumer products like Apple's iPhone. Foxconn's earlier reliance on iPhone manufacturing was seen as a risk, and especially in light of geopolitical trade challenges and slowing demand growth for the premium smartphones.
However, Foxconn Chairman Young Liu since 2019 has encouraged the company to focus on AI servers, electric vehicles, and semiconductors to diversify its approach. Foxconn next became successful in the AI server manufacturing business and is Nvidia's biggest server maker.
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