It is indeed!
Intel’s 15,000 layoffs, citing “margins are too low,” comes five months after the Biden administration’s CHIPS Act gave it an $8.5 billion gift, $11 billion in favorable loans, and $25 billion in tax cuts, on the promise to hire 10,000 people.
https://x.com/loomdoop/status/1819237197473894749
P.s.: if you have an Intel 13th/14th gen chip, especially an i7 or i9, check for BIOS updates and underclock it in order to prevent permanent degradation.
I think if I had one of the affected chips, I’d want it to fail while they’re still replacing them for free. It sounds like the various measures data center people are using are only slowing the degradation, not eliminating it. Maybe I’d wait until it’s clear the issue is not in the replacement chips though.
The high failure rates that have been reported are in situations where the chips are working hard 24/7. I think for most home users, were not going to see the failures for a few years, which is exactly what Intel is counting on by not doing a full recall.
According to NIST (National Institute of Standards and Technology), “Updated July 26, 2024”
CHIPS Incentives application stage: Due diligence
Payments have not been disbursed yet. The money is supposed to be disbursed when the fabs are producing chips, IIRC, and they have barely started moving tools into one of the fabs. The article linked in the X.Com The Everything App post you linked says the payments and loans were announced. One of the big sticking points of the act was the government didn’t want to Foxconn it, so they tied payment to completion. According to NIST, they haven’t paid anyone shit yet.
A bigger chunk of their shit earnings can be blamed on Brandon prohibiting them from selling chips to the largest market in the world.
They are still getting most of the tax cuts and other stuff. Just maybe not the $15 billion for the actual factories, but I also expect them to get a lot of that $$$ in the end. The Biden (or whoever wins in 2024) government can basically do whatever they want at any point.
This is a natural process. Intel’s value has been rising and falling for millions of years. It has nothing to do with human activity.
Oh no my grandmother’s inheritance
Funniest outcome of this shit. The dude will now probaly #HODL until the stock goes to zero and Intel declares bankruptcy. This is why WallstreetBets is an irreplaceable subreddit.
Yolo’d $700k of his $800k inheritance entirely on Intel like a few hours before it tanked
https://reddit.com/r/wallstreetbets/comments/1ehjuzj/i_bought_700k_worth_of_intel_stock_today/
It’s the perfect foil to other person who did a bunch of “DD” on why Crowdstrike was overvalued, mere hours before they brought down millions of mission-critical windows machines across the planet
I think the nature of inheritance suggests that if you were Meemaw you would be dead, sad to say.
Meemaw’s revenge! She’s back from hell to call you a dipshit for gambling away your inheritance without even getting free drinks at the high roller table.
good. that’s what you should get for building one of your chip plants on stolen indigenous land and collaborating with apartheid.
