Intel CEO Pat Gelsinger revealed a plan to cut over 15,000 jobs as part of a larger transformation strategy. This move comes amidst news of a major partnership with Amazon Web Services (AWS) and a $3 billion grant from the U.S. government for its semiconductor arm, Intel Foundry.
Results for: AWS
BofA Securities analyst Justin Post remains bullish on Amazon, maintaining a Buy rating with a price target of $210. Post’s optimism stems from CEO Andy Jassy’s restructuring efforts, aimed at streamlining operations and driving cost savings. This includes a strategic partnership with Intel to develop custom AI chips for Amazon Web Services (AWS), which is expected to capture significant market share in the burgeoning AI market. The analyst also sees opportunities for Amazon to increase efficiency through a reduction in management layers and a return to the office.
Amazon shares are trading higher on Tuesday after announcing a new collaboration with Intel Corp. to develop AI chips for Amazon Web Services (AWS). This news coincides with Amazon’s upcoming Prime Big Deal Days event, which promises exclusive deals for Prime members ahead of the holiday season. Analysts are bullish on Amazon’s stock, with an average price target of $224.15, representing a potential upside of 18.86%.
Intel’s stock price climbed after the company announced a multi-billion-dollar deal with Amazon Web Services (AWS) for custom AI chips and received a $3 billion grant from the U.S. government for semiconductor production. While some analysts remain cautious, others see this as a positive sign for the company’s future.
Intel Corporation’s shares surged in pre-market trading after announcing a strategic collaboration with AWS to boost US chip manufacturing. Other stocks saw significant gains and losses, with Galmed Pharmaceuticals and Smith Micro Software leading the charge. This report highlights the key movers and shakers in today’s pre-market activity.
BofA Securities analyst Justin Post upgraded Amazon stock to Buy, citing the new Oracle partnership and Amazon Web Services’ (AWS) continued AI growth. The partnership unlocks new opportunities for cloud providers, while AWS’s differentiated infrastructure and strong AI capabilities are driving client wins. Post’s price target reflects a Sum Of The Parts (SOTP) analysis, valuing Amazon’s various business segments, including retail, AWS, and advertising.
Oracle shares surged in pre-market trading after reporting better-than-expected earnings and announcing a new partnership with Amazon Web Services (AWS). Other notable movers included Silexion Therapeutics, Quoin Pharmaceuticals, and Actelis Networks, while Edgio, UTime Limited, and SmartKem saw significant declines.
Amazon is testing a new server design featuring its own AI chips, aiming to reduce reliance on NVIDIA GPUs and offer more cost-effective AI solutions for its customers. The company is planning to invest heavily in data centers utilizing its new AI chips, promising significant cost savings and performance improvements.
CodeWhisperer, Amazon’s AI-powered coding assistant, has rebranded as Q Developer. The tool is now part of Amazon’s Q family of generative AI chatbots and helps developers with tasks such as debugging, troubleshooting, and security scans. Q Developer can also generate code in multiple languages, test code, and assist with implementing new code. The premium version, Q Developer Pro, offers higher usage limits, user management tools, and IP indemnity.
Amazon’s first-quarter earnings report on Tuesday will provide insights into the health of the U.S. consumer and the artificial intelligence (AI) sector. AWS, Amazon’s cloud computing business, has become a key profit driver, and investors will be watching its growth closely. Other areas of interest include advertising revenue, the performance of the retail business, and the company’s cost structure.