Intel

The chip giant has made a dramatic decision to close the optimization and AI agents group at its research labs in the country, fire senior developers, and halt important operations.

David Zinsner, Intel's CFO, revealed that as part of the organizational change led by Lip-Bu Tan, the company has reduced its management layers from 12 to 6 and the number of vice presidents from approximately 450 to 200.

Intel has unveiled its next-generation server processor architecture, Diamond Rapids. The innovative computing block technology was developed under the leadership of the company's R&D center in Israel.

The chip giant is raising capital to increase investments in its operations, a move that comes against the backdrop of attempts to strengthen its position in the global chip market.

The chip giant is leveraging the surge in its stock to raise capital and fund growth opportunities in the AI era. Shares are down in pre-market trading.

The Israeli government has approved the transfer of approximately one billion shekels to the defense budget. The funding includes 850 million shekels originally allocated as a grant to Intel for its Kiryat Gat plant expansion.

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US President Donald Trump is actively increasing the state's stake in private companies, turning budget grants into equity investments. The portfolio now includes 30 companies, including Intel and GlobalFoundries.

Fadi Aboud, one of the most senior Arab professionals at Intel, discusses his journey in technology, overcoming cultural barriers, and the importance of role models for integrating Arab society.

The state has cancelled a 1.3 billion shekel grant for Intel following the freeze on the expansion of its Kiryat Gat plant. The Ministry of Finance decided not to wait for progress, though it kept a separate grant scheduled for 2026.

The construction of the plant expansion in Kiryat Gat has been halted for two years due to company distress, leading to the cancellation of projects in Germany and Poland. Consequently, the Ministry of Finance's Budget Department has decided to cancel a 1.3 billion shekel grant.

A year after Lip-Bu Tan took over as Intel CEO, the company is showing strong growth. Second-quarter 2026 revenue jumped 25% to $16.1 billion, marking the company's strongest quarterly performance in 15 years.

Intel's stock has become one of the fastest-growing tech stocks of the past year, jumping by about 326% and crossing a market cap of half a billion dollars, its highest ever. This mirrors Alphabet's reports from yesterday, which showed that software and cloud giants are only increasing their commitment to purchasing chips.

Wall Street indices closed with mixed results: the Dow Jones index rose by 0.5%, the S&P 500 index rose by less than 0.1%, and the Nasdaq index fell by 0.6%. Brent crude oil fell by 3.1% to $97.6 per barrel.