Tech5: Intel gets $8 billion US grant, UBS says Swiggy is a 'Buy', and more

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Tech5: Intel gets $8 billion US grant, UBS says Swiggy is a 'Buy', and more

//business-finance.news-articles.net/content/202 .. -us-grant-ubs-says-swiggy-is-a-buy-and-more.html

Published in Business and Finance on Wednesday, November 27th 2024 at 19:01 GMT by Bill Williamson
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The grant, slightly lower than the initially announced $8.5 billion, reflects Intel's $3 billion contract with the Department of Defense, also funded by the CHIPS Act, CNBC reported on November 25. The award marks a key step in Intel's push to revitalise its US operations, despite ongoing challenges in its foundry business.

The article from Forbes India discusses several key developments in the tech industry. Intel has been awarded an $8.5 billion grant from the U.S. government to support its semiconductor manufacturing expansion, aiming to enhance domestic production capabilities. UBS has upgraded its rating on Swiggy, an Indian food delivery platform, to 'Buy' from 'Neutral', citing strong growth prospects and a robust market position. Additionally, the article touches on the increasing trend of AI integration in various sectors, with companies like Nvidia and AMD also making significant moves in AI technology. Furthermore, there's mention of regulatory scrutiny on tech giants, with the EU fining Apple for anti-competitive practices, and updates on the ongoing discussions around data privacy and cybersecurity.

Read the Full Forbes India Article at [ https://www.forbesindia.com/article/news/tech5-intel-gets-8-billion-us-grant-ubs-says-swiggy-is-a-buy-and-more/94706/1 ]