Intel Says Power-Efficient Sierra Forest Chip Will Be Delivered in H1 2024

Intel's logo is pictured during preparations at the CeBit computer fair, which will open its doors to the public on March 20, at the fairground in Hanover, Germany, March 19, 2017. (Reuters)
Intel's logo is pictured during preparations at the CeBit computer fair, which will open its doors to the public on March 20, at the fairground in Hanover, Germany, March 19, 2017. (Reuters)
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Intel Says Power-Efficient Sierra Forest Chip Will Be Delivered in H1 2024

Intel's logo is pictured during preparations at the CeBit computer fair, which will open its doors to the public on March 20, at the fairground in Hanover, Germany, March 19, 2017. (Reuters)
Intel's logo is pictured during preparations at the CeBit computer fair, which will open its doors to the public on March 20, at the fairground in Hanover, Germany, March 19, 2017. (Reuters)

US chip giant Intel Corp said on Wednesday its first semiconductor for data center customers focused on power efficiency, Sierra Forest, would be delivered in the first half of next year, as it outlined a chip release schedule after prior delays.

"It's been a challenging few years as we had introduced a lot of innovation but also a lot of complexity and our product release dates had pushed out," Intel Data Center and AI Group head Sandra Rivera told Reuters ahead of an investor event.

Intel still dominates the markets for PC and server processing chips, with a market share greater than 70%, tech research firm IDC has calculated. But that is down from more than 90% in 2017.

Intel's most powerful fourth-generation Xeon processor for data centers, Sapphire Rapids, had faced delays that gave competitor Advanced Micro Devices Inc time to catch up. But Rivera said Intel's "roadmap is on track" and was "hitting all of our key engineering milestones".

She added the fifth-generation Xeon processor, Emerald Rapids, was on track to be delivered at the end of this year and the next-generation Granite Rapids, which customers are testing now, would be delivered next year after the release of Sierra Forest.

Intel said the next power-efficient chip, Clearwater Forest, would come to market in 2025.

Rivera said that Intel was also working on building the Intel Developer Cloud with 256 Xeon chips and 512 Gaudi chips for artificial intelligence (AI) that would be available for AI developers to train and run new models. She said AI startups Hugging Face and Stable Diffusion were already using Intel chips.



US Supreme Court Tosses Case Involving Securities Fraud Suit against Facebook

A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
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US Supreme Court Tosses Case Involving Securities Fraud Suit against Facebook

A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)

The US Supreme Court sidestepped on Friday a decision on whether to allow shareholders to proceed with a securities fraud lawsuit accusing Meta's Facebook of misleading investors about the misuse of the social media platform's user data.
The justices, who heard arguments in the case on Nov. 6, dismissed Facebook's appeal of a lower court's ruling that had allowed a 2018 class action led by Amalgamated Bank to proceed. The Supreme Court opted not resolve the underlying legal dispute, determining that the case should not have been taken up. Its action leaves the lower court's decision in place, Reuters reported. 
The court's dismissal came in a one-line order that provided no explanation. The Facebook dispute was one of two cases to come before the Supreme Court this month involving the right of private litigants to hold companies to account for alleged securities fraud. The other one, involving the artificial intelligence chipmaker Nvidia, was argued on Nov. 13. The Supreme Court has not ruled yet in the Nvidia case.
The plaintiffs in the Facebook case claimed the company unlawfully withheld information from investors about a 2015 data breach involving British political consulting firm Cambridge Analytica that affected more than 30 million Facebook users. They accused Facebook of misleading investors in violation of the Securities Exchange Act, a 1934 federal law that requires publicly traded companies to disclose their business risks. Facebook's stock fell following 2018 media reports that Cambridge Analytica had used improperly harvested Facebook user data in connection with Donald Trump's successful US presidential campaign in 2016. The investors have sought unspecified monetary damages in part to recoup the lost value of the Facebook stock they held.
At issue was whether Facebook broke the law when it failed to detail the prior data breach in subsequent business-risk disclosures, and instead portrayed the risk of such incidents as purely hypothetical.
Facebook argued that it was not required to reveal that its warned-of risk had already materialized because "a reasonable investor" would understand risk disclosures to be forward-looking statements. President Joe Biden's administration supported the shareholders in the case.
US District Judge Edward Davila dismissed the lawsuit but the San Francisco-based 9th US Circuit Court of Appeals revived it.
The Cambridge Analytica data breach prompted US government investigations into Facebook's privacy practices, various lawsuits and a US congressional hearing. The US Securities and Exchange Commission in 2019 brought an enforcement action against Facebook over the matter, which the company settled for $100 million. Facebook paid a separate $5 billion penalty to the US Federal Trade Commission over the issue.
The Supreme Court in prior rulings has limited the authority of the Securities and Exchange Commission, the federal agency that polices securities fraud.