What? This is very concerning!
"Intel's acquisition of Israeli chipmaker Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE:TSEM) for $5.4 billion, which was announced early last year is still waiting to be completed. In January 2023, Intel announced that completion of the deal was being delayed until before the end of June 2023 as the intensifying chip war between the US and China is casting a shadow over whether the Chinese regulator will approved the deal. ... Intel did not refer to the merger in its first quarter financial report, but CEO Pat Gelsinger provided a general and unsatisfactory statement about the continuation of talks with the Chinese following his visit to the country. Now, Intel only has only two months left to receive Chinese approval, unless it will be postponed again, or even cancelled. ...
At the start of April, top Intel executives met with senior Chinese government officials for talks, and Gelsinger even traveled to China to discuss with China's Minister of Commerce Wang Wentao, the issue of supply chain stability in the chip industry. ...
The Chinese also fully understand Intel's dependence on them. China was the largest market for the US chipmaker last year - 27% of its revenue, or $21.1 billion."
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