Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Intel Corporation    INTC

Delayed Quote. Delayed  - 09/23 10:14:59 pm
37.19 USD   -0.96%
09/24 Lenovo, Intel, Synaptics and PayPal team up to replace passwords ..
09/23 Lenovo, Intel, PayPal, Synaptics partner to bring FIDO authentica..
09/23 INTEL : MIT - Cache management improved once again
News SummaryMost relevantAll newsSector news 

Intel To Buy Cray Supercomputing Assets For $140 Million In Cash

share with twitter share with LinkedIn share with facebook
share via e-mail
04/24/2012 | 11:45pm CEST
   By Shara Tibken 

Intel Corp. (>> Intel Corporation) agreed to purchase certain networking assets from supercomputer maker Cray Inc. (CRAY) for $140 million in cash, giving the chip company a boost in the high-performance computing market and strengthening Cray's balance sheet.

Intel will be buying interconnect technology and related intellectual property from Cray, which Cray has been using in its high-performing computers.

The transaction is expected to close by the end of the current quarter, and up to 74 Cray employees will be joining Intel. Cray said the lower headcount will lead to cost savings in future periods, with a "relatively modest amount" of the benefit expected in 2012.

Along with the cost savings, Cray Chief Executive Peter Ungaro said in a press release that the agreement "dramatically strengthens our balance sheet and increases our options for further growth, profitability and creating shareholder value."

Cray wasn't immediately available to comment further. A spokesman from Intel said interconnect is "another area in high-performance computing that's ripe for innovation." He added that Cray has the "best-in-class personnel and IP to do that with."

Cray shares, which were halted ahead of the news, jumped 24% to $8.75 after-hours when trading was resumed. Cray had a market capitalization of $259 million at Tuesday's close. Intel shares, meanwhile, rose 1% to $27.58 in after-hours trading.

Supercomputers help tackle the toughest scientific problems, including simulating commercial products like new drugs and defense-related applications such as weapons design and code breaking. Most of the biggest machines are used in government-owned labs, but many smaller variants have been used by companies for years in designing products like cars and drugs.

High-performance computing has been a big focus for Intel and fellow semiconductor makers Advanced Micro Devices Inc. (AMD) and Nvidia Corp. (NVDA). While supercomputing isn't a high-volume business, the processors typically are top-performing and command higher prices.

Intel has scooped up several companies of late that provide supercomputing technology. Similar to the Cray deal, Intel bought QLogic Corp.'s (QLGC) InfiniBand networking assets earlier this year for $125 million in cash.

Diane Bryant, general manager of Intel's datacenter and connected system group, noted that the acquisition of Cray's assets will help Intel achieve "exascale" computing performance, or a quintillion operations per second. That is a hundred times more than today's fastest supercomputers, and Intel hopes to reach the goal by 2018.

As for Cray, the company said it will continue to develop, sell and support current product lines, as well as its next-generation supercomputer codenamed "Cascade." It also will be able to leverage "important differentiating features of certain future Intel products," and it will be able to use the transferred technology in Cray products.

-By Shara Tibken, Dow Jones Newswires; 212-416-2189; shara.tibken@dowjones.com

Stocks mentioned in the article : Intel Corporation
share with twitter share with LinkedIn share with facebook
share via e-mail
09/24 Lenovo, Intel, Synaptics and PayPal team up to replace passwords on PCs with ..
09/23 Lenovo, Intel, PayPal, Synaptics partner to bring FIDO authentication to lapt..
09/23 INTEL : MIT - Cache management improved once again
09/22 TELIT COMMUNICATIONS : Intel Collaborate on Industrial #IoT Platforms
09/22 INTEL : Oregon tech, loath to talk public policy, finds its voice in Measure 97 ..
09/22 INTEL : Protect All Customer Data - Not Credit Card Numbers Alone
09/22 Versa Networks Establishes the First Open and Software-Based SD-WAN Ecosystem
09/22 INTEL : partners with Airtel to unveil digital ICT training caravan
09/22 INTEL : Innoway, Intel Open Innovation Lab Opened
09/22 INTEL : House Oversight and Government Reform Subcommittee on Information Techno..
More news
Sector news : Semiconductors - NEC
09/20 Chip designer ARM launches processor fit for driverless cars
09/16 Intel raises revenue forecast as PC market improves
09/16DJIntel Raises Quarterly Guidance
09/16DJGlobalfoundries Plans Big Investment in New York State Chip Plant
09/15DJGlobalfoundries Plans Big Investment in New York State Chip Plant
More sector news : Semiconductors - NEC
News from SeekingAlpha
09/23 Industrial Sector Capped By Ships & Ports In September
09/23 Why Apple Might Be Interested In Lit Motors
09/23 Lenovo, Intel, PayPal and Synaptics partner in fingerprint-authentication eff..
09/23 FEARLESS FORECAST : It Will Still Be Intel Inside New Apple macOS Computers
09/22 INTEL : Stock Price Has Not Found Its Top Yet
Financials ($)
Sales 2016 58 617 M
EBIT 2016 14 763 M
Net income 2016 10 525 M
Debt 2016 11 102 M
Yield 2016 2,78%
P/E ratio 2016 17,91
P/E ratio 2017 13,80
EV / Sales 2016 3,19x
EV / Sales 2017 3,00x
Capitalization 175 946 M
More Financials
Duration : Period :
Intel Corporation Technical Analysis Chart | INTC | US4581401001 | 4-Traders
Full-screen chart
Technical analysis trends INTEL CORPORATION
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 40
Average target price 40,3 $
Spread / Average Target 8,3%
Consensus details
EPS Revisions
More Estimates Revisions
Brian M. Krzanich Chief Executive Officer & Director
Andy D. Bryant Chairman
W. Eric Mentzer Director-Strategy, Planning & Operations
Stacy J. Smith Chief Financial Officer & Executive Vice President
Paula Tolliver Chief Information Officer & Vice President
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
SK HYNIX INC--.--%25 983
More Results