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    Nvidia Will Replace Intel in the Dow Jones Stock Index

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    The change, starting next Friday, lifts a dominant player in artificial intelligence over its chip-making rival, which has struggled to keep up.The chip-maker Nvidia will soon replace its rival Intel in the Dow Jones industrial average, S&P Dow Jones Indices said on Friday, reflecting Nvidia’s dominance in the world of artificial intelligence.S&P Dow Jones Indices, which maintains the stock index, said in a statement that the change would take place before the opening of trading next Friday “to ensure a more representative exposure to the semiconductors industry.”Nvidia established an early foothold in the A.I. revolution, tailor-making its chips for machine learning tasks and building a community of A.I. programmers who were eager to develop their technology on the company’s hardware. The bet paid off. Nvidia now accounts for the majority of A.I. chip sales and has become the second-most-valuable company in the world, slightly trailing Apple at $3.32 trillion after trading hours on Friday.Intel, which makes the chips that serve as the brains of most computers, once considered buying Nvidia. But its board resisted the acquisition, and Nvidia went on to become a dominant player in the A.I. boom while Intel struggled to keep up. Intel’s market capitalization has fallen below $1 trillion.“The thing that we understood is that this is a reinvention of how computing is done,” Jensen Huang, Nvidia’s chief executive and one of its founders, told The New York Times last year. “And we built everything from the ground up, from the processor all the way up to the end.”A recent stock split at Nvidia prompted speculation that it would replace Intel on the Dow Jones. In June, Nvidia unveiled a 10-for-one stock split that would make it easier for a retail investor to buy into the company without diluting its valuation.Spokeswomen for Nvidia and Intel declined to comment. More

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      Qualcomm Asked Rival Intel if It Would Consider Sale

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      While Intel has struggled in recent years, other chipmakers are thriving because of a boom in demand.The chipmaker Qualcomm has approached its rival Intel in recent days about the possibility of acquiring the slumping Silicon Valley giant, two people familiar with the matter said Friday, requesting anonymity because the talks were confidential.Qualcomm has not yet made an official offer for Intel, one of the people said, and the obstacles to a deal remain steep. Any deal would likely draw significant regulatory scrutiny, given the mammoth size and national security importance of both chip companies. It is unclear whether regulators would allow Qualcomm to buy Intel without taking on its struggling foundry business, and it remains equally unclear whether Qualcomm would want to take on that complex endeavor. A deal would also be costly. Intel, which has seen its shares fall nearly 40 percent over the last year, has a market capitalization of $93 billion. Qualcomm, which has seen its shares rise 55 percent, has a market value of $169 billion. Qualcomm and Intel, through spokeswomen, both declined to comment. The Wall Street Journal earlier reported Qualcomm’s approach. That any chip-making rival would consider trying to buy Intel would have been inconceivable a decade ago. But years of management issues and whiffs on technology transitions have weakened what was once one of Silicon Valley’s most powerful companies.Intel missed out on selling chips for mobile phones and has failed to capitalize on the boom in artificial intelligence, a field rival Nvidia now dominates with specialized chips used in data centers. Intel’s chip manufacturing operations, once the most advanced, also lost a technology lead to Taiwan Semiconductor Manufacturing Company.Intel’s problems were underscored in early August, when it announced a $1.6 billion quarterly loss and plans to cut 15,000 jobs. The company, the largest planned recipient of federal financing under legislation called the CHIPS Act, on Monday announced other moves that include plans to pause the setting up of new plants in Germany and Poland.Qualcomm, based in San Diego, is a leader in cellular technology and provides chips used in flagship smartphones from companies such as Apple and Samsung Electronics. Unlike Intel, Qualcomm has never operated factories, a costly business that most chip designers avoid. So it would seem more likely to be interested in the Intel operations that design chips, as well as its broad expertise in PC software and channels for selling those systems, said Patrick Little, a former Qualcomm executive who now is chief executive of SiFive, a Silicon Valley start-up that sells rival microprocessor designs.“Those are things Qualcomm would have to mature on their own over time,” Mr. Little said. “If they worked with or somehow had a piece of Intel that could accelerate that part of their strategy.”Any effort to buy Intel would likely face a tough antitrust review and would be scrutinized closely on national security grounds, since its design and manufacturing operations are important for defense applications and overall U.S. competitiveness in semiconductors.Lauren Hirsch reported from New York and Don Clark from San Francisco. More

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      American Firms Invested $1 Billion in Chinese Chips, Lawmakers Find

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      A Congressional investigation determined that U.S. funding helped fuel the growth of a sector now viewed by Washington as a security threat.A congressional investigation has determined that five American venture capital firms invested more than $1 billion in China’s semiconductor industry since 2001, fueling the growth of a sector that the United States government now regards as a national security threat.Funds supplied by the five firms — GGV Capital, GSR Ventures, Qualcomm Ventures, Sequoia Capital and Walden International — went to more than 150 Chinese companies, according to the report, which was released Thursday by both Republicans and Democrats on the House Select Committee on the Chinese Communist Party.The investments included roughly $180 million that went to Chinese firms that the committee said directly or indirectly support Beijing’s military. That includes companies that the U.S. government has said provide chips for China’s military research, equipment and weapons, such as Semiconductor Manufacturing International Corporation, or SMIC, China’s largest chipmaker.The report by the House committee focuses on investments made before the Biden administration imposed sweeping restrictions aimed at cutting off China’s access to American financing. It does not allege any illegality.Last August, the Biden administration banned U.S. venture capital and private equity firms from investing in Chinese quantum computing, artificial intelligence and advanced semiconductors. It has also imposed worldwide limits on sales of advanced chips and chip-making machines to China, arguing that these technologies could help advance the capabilities of the Chinese military and spy agencies.Since it was established a year ago, the committee has called for raising tariffs on China, targeted Ford Motor and others for doing business with Chinese companies, and spotlighted forced labor concerns involving Chinese shopping sites.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More