Plus: Meta signs a multibillion dollar deal with Amazon to power AI goals. And China’s DeepSeek unveils its long-awaited new model. Imani Moise hosts.
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[00:00:20] [SPEAKER_00] Here's your morning TNB Tech Minute for Friday, April 24th. I'm Imani Moise for The Wall Street Journal. Intel stock is on track to break a more than 25-year-old record. Yesterday, Intel reported sales of $13.6 billion for the March quarter, up 7% from the year earlier period and beating analyst estimates. The company also raised guidance for sales in the current quarter, the latest sign that the AI boom has given the Silicon Valley pioneer a new lease on life.
[00:00:48] [SPEAKER_00] In early trading today, the company's stock was going for more than $80 a share, trading above the record close of $74.88 a share set back in 2000 at the peak of the dot-com mania. Beyond the AI boom, Intel stock has also benefited from direct investment by the federal government and its involvement in Elon Musk's TerraPower chip-making project. Meta has signed a multi-year, multi-billion-dollar deal with Amazon to power its AI goals.
[00:01:17] [SPEAKER_00] The social media giant will use tens of millions of AWS Graviton CPU chips to support its AI agents and other initiatives. The company's declined to disclose the financial terms of the deal and the exact duration. An Amazon vice president said the length of the deal is between three and five years. Analysts say the agreement highlights growing demand for diversified hardware as tech companies scramble for more computing capacity.
[00:01:41] [SPEAKER_00] Meta's deal with AWS is one of several it has announced with chip companies this year, including NVIDIA, Advanced Micro Devices, and ARM Holdings. And DeepSeq has released a new model, breaking months of silence from one of China's most closely watched AI labs. The Chinese AI company claims its V4 model is the most powerful open-source large-language model available, highlighting improvements in reasoning and agentic tasks.
[00:02:07] [SPEAKER_00] The update to its flagship model comes as the lab seeks its first round of external fundraising amid intensifying competition between the U.S. and China. That's your TNB Tech Minute. Join us again this afternoon for more.
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