A humorous look at the companies that caught our eye, for better or worse, this week
After Intel’s ghastly fourth-quarter results last month – which included a US$664-million net loss and a 32-per-cent drop in revenue – investors wondered what other nasty surprises the troubled chip maker might have in store. This week, they found out. Aiming to give itself more financial flexibility as it cuts costs and struggles to turn around its fortunes amid slumping PC sales, Intel slashed its dividend by 65 per cent – the first reduction to its payout since 2000.
But there’s no doubt Nvidia sees artificial intelligence as central to its future. Shares of the chip maker jumped after fourth-quarter revenue and earnings topped Wall Street’s estimates, helped by growth in its data centre business, which includes chips for applications such as Open AI’s ChatGPT and Microsoft’s Bing AI. Here’s another one: “Why did the artificial intelligence break up with its girlfriend? She kept calling him a ‘neural net.’ ” Okay, so the humour needs a little work.
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