Latest news with #Raghib
Time of India
26-04-2025
- Time of India
Sore back saves lives of state bride & Bihar groom
1 2 Ranchi: For Raghib and Shabnam (name changed), their honeymoon in Kashmir was supposed to be the start of a beautiful chapter of their married life — a chance to explore new horizons together, surrounded by nature's splendour. It was their dream destination, and everything seemed perfect until a fateful twist of events turned their paradise into a nightmare. Shabnam from Kanke and Raghib from Gaya in Bihar tied the knot on April 12. The couple, along with another newlywed couple, were on a five-day trip to Jammu and Kashmir and scheduled to return on April 22. They reached Pahalgam on April 20, two days before the attack by terrorists. A visit to Baisaran was on their schedule. But they cut short their trip due to sore lower back from horse rides. What they blamed as a curse, turned out to be a blessing in disguise as they escaped the terror attack that occurred a day later. Speaking to TOI, Raghib said, "We visited Aru Valley, Betaab Valley, and Chandanwari in Pahalgam before leaving for Srinagar on Monday. We could not visit Baisaran as the roads were in a dilapidated condition due to the previous day's rain." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Just two years old and diagnosed with cancer—help save her! Donate For Health Donate Now Undo " Our travel agent advised us to visit the meadow on Tuesday. But my wife and friend's wife were reluctant as we were suffering from sore backs due to hours spent on horseback," he added. Still in shock, he uttered, "People from across the country and abroad were enjoying, without any hint of what was to unfold the next day." "We were at Nishat Bagh in Srinagar when we got the news on social media. Shabnam and my friend's wife kept asking repeatedly — What if it was not them, but us?" Raghib said. Their train from Jammu to Delhi was scheduled on April 23. But they could not catch the train and had to spend two days at their relative's place in Srinagar. They had to spend around Rs 70,000 to reach Ranchi from Srinagar on April 25, Raghib said.
Yahoo
15-04-2025
- Business
- Yahoo
Intel Growth Challenges Are Not Over Despite Altera Stake Sale: Analyst
JP Morgan analyst Harlan Sur reiterated an Underweight rating on Intel Corp (NASDAQ:INTC) on Tuesday, setting a price forecast of $23. On Monday, before the market opened, Intel announced a 51% stake sale of its programmable chip business, Altera, to private equity firm Silver Lake Management for $4.46 billion, valuing Altera at $8.75 billion with a transaction multiple of ~5.7 times calendar 2024 sales. As a reference, Intel bought Altera in 2015 at 9 times calendar 2014 sales and in 2020, and Advanced Micro Devices, Inc (NASDAQ:AMD) bought Xilinx for 11 times calendar 2019 sales). Chip Stocks Rise as Trump Pushes Tariffs, Exempts Phones and Backs US Semiconductor Production Over the past 10 years, since Intel acquired Altera, revenues have declined by 20% compared to 87% growth for the overall semiconductor industry. The transaction marks Intel's first significant strategic move under its new CEO, Lip-Bu Tan. It underpins the company's broader turnaround strategy and refocuses on its core x86 businesses. Financially, Altera generated $1.54 billion in revenue last year (putting the deal value at 6 times calendar 2024 sales) with ~50% adjusted gross margin, and we estimate Altera's revenue to grow to $1.6 billion (+4%) in calendar 2025. Intel originally acquired Altera for $16.7 billion in December 2015, 9 times calendar 2014 sales. The lower transaction value reflects a lower revenue profile (Altera revenues are down 20% over the past 10 years versus 87% growth in the semiconductor industry) and margin profile. Intel plans to de-consolidate Altera from its financial statements and expects to close the deal in the second half of calendar 2025. The sale strengthens Intel's balance sheet amid a more challenging macro environment. Raghib Hussain will succeed Sandra Rivera as CEO of Altera (effective May 5). Previously, Raghib was President of Products and Technologies at Marvell Technology, Inc (NASDAQ:MRVL), overseeing advancements in its custom AI chips and networking solutions business. Raghib led the Data Center Cloud Group, focusing on integrated silicon portfolios for switching, connectivity, and computing. Overall, Sur noted this is a step in the right direction. However, he remained underweight on the stock as Intel continues to navigate through a challenging period, as it right-sizes the company and continues to move forward with its technology/manufacturing product roadmaps. Sur projected first-quarter revenue of $12.2 billion and adjusted EPS of $0.00. Price Action: INTC stock closed lower by 2.26% at $19.85 on Tuesday. Read Next:Photo Courtesy: Tada Images On Shutterstock Date Firm Action From To Mar 2022 Morgan Stanley Downgrades Equal-Weight Underweight Feb 2022 Raymond James Upgrades Underperform Market Perform Feb 2022 BMO Capital Maintains Market Perform View More Analyst Ratings for INTC View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? INTEL (INTC): Free Stock Analysis Report This article Intel Growth Challenges Are Not Over Despite Altera Stake Sale: Analyst originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Channel Post MEA
15-04-2025
- Business
- Channel Post MEA
Intel Sells Majority Stake in Altera to Silver Lake For $8.75 billion
Intel Corporation today announced that it has entered into a definitive agreement to sell 51% of its Altera business to Silver Lake, a global leader in technology investing. The transaction, which values Altera at $8.75 billion, establishes Altera's operational independence and makes it the largest pure-play FPGA (field programmable gate array) semiconductor solutions company. Altera offers a proven and highly scalable architecture and tool chain and is focused on driving growth and FPGA innovation to meet the demands and opportunities of an AI-driven market. Intel will own the remaining 49% of the Altera business, enabling it to participate in Altera's future success while focusing on its core business. Intel also announced that Raghib Hussain will succeed Sandra Rivera as chief executive officer of Altera, effective May 5, 2025. Hussain is a highly accomplished and visionary technology executive with strong business acumen and engineering credentials. He joins Altera from his previous role as president of Products and Technologies at Marvell. Prior to joining Marvell in 2018, Hussain served as chief operating officer of Cavium, a company he co-founded. Prior to Cavium, Hussain held engineering roles at both Cisco and Cadence and helped found VPNet, an enterprise security company. 'Today's announcement reflects our commitment to sharpening our focus, lowering our expense structure and strengthening our balance sheet,' said Lip-Bu Tan, chief executive officer of Intel. 'Altera continues to make progress repositioning its product portfolio to participate in the fastest growing and most profitable segments of the FPGA market. We are grateful for Sandra's strong leadership and lasting impact throughout her 25-year Intel career and wish her continued success as she begins a new chapter. Raghib is a superb executive we selected to lead the business forward based on his vast industry experience and proven track record of success. We look forward to partnering with Silver Lake upon closing of the transaction, as their industry expertise will help to accelerate Altera's efforts and unlock additional economic value for Intel.' 'This investment represents a once-in-a-generation opportunity to invest in a scale leader in advanced semiconductors. Together with Raghib, we will be focused on strengthening Altera's technology leadership position and investing in emerging AI-driven markets such as edge computing and robotics,' said Kenneth Hao, chairman and managing partner of Silver Lake. 'We look forward to working closely with Intel as a strategic partner who will continue to provide U.S.-based foundry services and complementary engagement with customers.' 'I am excited to lead Altera in its next chapter, and this milestone with Silver Lake furthers Altera's journey to be the world's No. 1 FPGA solutions provider,' said Hussain. 'Backed by Silver Lake's strong track record and now with clarity of focus as an independent company, Altera is well-positioned to build on its momentum and deliver breakthrough FPGA-based solutions that are shaping the future of compute driven by AI. I am grateful for the impact Sandra has made and the team she has built as we begin Altera's next phase of growth.' Altera has been at the forefront of driving FPGA innovations for more than 40 years. The company provides leading programmable solutions that are easy-to-use and deploy in a range of strategically important segments such as industrial, communications, data center and military, aerospace, and government, as well as emerging markets such as AI/edge and robotics. Its broad portfolio of programmable semiconductor solutions, software and development tools deliver the reliability and flexibility needed to accelerate customer technology innovation. The transaction is expected to close in the second half of 2025, subject to customary closing conditions. Upon closing, Intel expects to deconsolidate Altera's financial results from Intel's consolidated financial statements. In Fiscal Year 2024, Altera generated revenues of $1.54 billion, GAAP gross margin of $361 million and GAAP operating loss of $615 million. Altera's Fiscal Year 2024 non-GAAP gross margin was $769 million and non-GAAP operating income was $35 million. Reconciliations between the GAAP and non-GAAP measures are provided below. Morgan Stanley & Co. LLC acted as financial advisor to Intel. 0 0
